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AI and Bubbles All the Way Down
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Editors’ Blog – TPM – Talking Points Memo
It goes on from there …Nvidia’s $250 billion backstop to OpenAI will let the money-burning AI lab lease space at the largest data center ever built.
OpenAI doesn’t have an investment-grade rating, so Nvidia is essentially lending its own.
Nvidia’s backstop for OpenAI is literally that — OpenAI is trying to sign a lease and its landlord, SoftBank, doesn’t like the tenant risk.
The AI boom is not broad-based in the same way at all.
And while it’s possible to interpret that fact in other ways, it certainly seems to me like it spells trouble.