Risk is rising as big tech companies like Oracle — the ultimate financial source of the Ellison media empire — need to turn to the bond market for staggering sums to finance data centers.
Risk is rising as big tech companies like Oracle — the ultimate financial source of the Ellison media empire — need to turn to the bond market for staggering sums to finance data centers.
Is it borrowed money or is it actually fictional non-existent money?
The money being spent to build data centers, buy equipment and electricity is real. The fact that openAI owe softbank $40bn is real.
The future returns from these present day expenditures are imaginary. Whether softbank get their loan back is speculative. Equity raises are even more so.
I think it’s both. They borrowed money on the future of AI.
Or is it money that has now been turned into fictional non-existent money, because it was stolen from our own future, where it was previously being held (we thought) safely in trust for us. They’re stealing the money from us. From our taxes, from our government funds and institutions, from our pensions. It’s our money. At least it nominally was, before all this happened. We’re being looted. The robbers are in our vault, they are packing our money into bags labelled “AI” as we speak.