A well known fact is that there have been many circular chip and center financing deals deals among the AI leaders NVIDIA, OpenAI, Anthropic, Microsoft, Alphabet, Amazon, Meta, Broadcom. Such circular deals could be artificially inflating the revenues of the current AI leaders.
In the building of the Dot Com boom and subsequent bust in 1996 - 2001 there were also many circular deals documented that inflated many of the technology companies revenues in the Dot Com boom.
Circular deals quite possibly artificially could inflate the revenue NVIDIA, OpenAI, Anthropic, Microsoft, Alphabet, Amazon, Meta, Broadcom by between 10 % and 30 %.
If the revenue of NVIDIA, OpenAI, Anthropic, Microsoft, Alphabet, Amazon, Meta, Broadcom is inflated by 10 %, they are 22 % overvalued.
If the revenue of NVIDIA, OpenAI, Anthropic, Microsoft, Alphabet, Amazon, Meta, Broadcom is inflated by 20 %, they are 46 % overvalued.
If the revenue of NVIDIA, OpenAI, Anthropic, Microsoft, Alphabet, Amazon, Meta, Broadcom is inflated by 30 %, they are 67 % overvalued.
Most probably NVIDIA's revenue is the one most artificially inflated via circular AI deals, whereby NVIDIA buys equity in OpenAI for tens of billions of USDs and then OpenAI turns and invests the gotten from NVIDIA's billions of USDs into buying the latest NVIDIA's chips. Anthropic has also done such deals also.
These lease back of GPU transactions are also a kind of circular deal.
No comments:
Post a Comment