Bloomberg published an analysis highlighting the growing financial interdependence in the artificial intelligence sector, particularly the circular funding models involving major players such as Nvidia, OpenAI, and Anthropic. In these models, suppliers invest in or finance their customers in exchange for purchase commitments for their products. The report draws parallels with the financial mechanisms observed before the 2007-2008 crisis, raising concerns about the stability and sustainability of these structures. Anthropic’s valuation at $600 billion by December 31 reflects market skepticism, with a current probability of only 2.6% of achieving this target.
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