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🚨 THIS IS HOW AI BUBBLE ENDS The S&P 500 keeps hitting all-time highs. But almost nobody sees the systemic crisis brewing. Wall Street has built a giant debt pyramid. Just like in 2000. How the scam works: Nvidia pours money into AI startups. Those startups borrow billions from...

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MARMOT

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342,369 次观看 • 1 个月前 •via X (Twitter)

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Everything is going exactly as I predicted. The S&P 500 dump has begun. But it's still 20% above its 200 EMA. 3 out of 3 previous cycles proved one thing: Huge pump above 200 EMA always ends in a brutal crash. 2020 → 2022 → 2025 This time won't be different. Remember, I warned about the BTC $82k bull trap and Saylor's sell-off before it happened. My next call will be the biggest one this cycle. Turn on notifications. Most people will follow me too late.
0:33

Everything is going exactly as I predicted. The S&P 500 dump has begun. But it's still 20% above its 200 EMA. 3 out of 3 previous cycles proved one thing: Huge pump above 200 EMA always ends in a brutal crash. 2020 → 2022 → 2025 This time won't be different. Remember, I warned about the BTC $82k bull trap and Saylor's sell-off before it happened. My next call will be the biggest one this cycle. Turn on notifications. Most people will follow me too late.

MARMOT

542,980 次观看 • 1 个月前

This isn't a recovery. It's a trap before the slaughter. Real bottoms need panic volume. Right now? Nothing. $63K → $67K → $55K → $43K This is exactly how Bitcoin bottoms. Remember, I warned about the $82K bull trap and Saylor's sell-off before they happened. You don't want to miss my next call. It will be the biggest one this cycle. Turn on notifications. Most people will follow me too late.
0:32

This isn't a recovery. It's a trap before the slaughter. Real bottoms need panic volume. Right now? Nothing. $63K → $67K → $55K → $43K This is exactly how Bitcoin bottoms. Remember, I warned about the $82K bull trap and Saylor's sell-off before they happened. You don't want to miss my next call. It will be the biggest one this cycle. Turn on notifications. Most people will follow me too late.

MARMOT

254,885 次观看 • 1 个月前

🚨 THIS IS HOW AI BUBBLE ENDS S&P 500 keeps hitting new all-time highs. The crowd thinks they are buying a resilient index. In reality, they are holding a ticking time bomb. And Big Tech is the one lighting the fuse. Apple, Microsoft, Google, Meta are no longer cash machines. Now they are just massive factories drowning in debt. By end of 2026, every cent of profit burns on chips and data centers. Even worse: their own billions aren't enough anymore. Big Tech borrowing exploded 357% in a single year. They are literally begging the market for cash. Why? This is pure FOMO. They're buried in debt for infrastructure that may never turn a profit. If AI doesn't fix productivity, this will be the most expensive bubble in history. And when this bubble bursts, it won't just hit tech. It will drag the entire S&P 500 into the abyss. Remember, I've called every major turn for the last 10 years, including the recent BTC $82K bull trap and the $111K top in October. My next call will be the biggest one this cycle. Turn on notifications. Most people will follow me too late.
0:36

🚨 THIS IS HOW AI BUBBLE ENDS S&P 500 keeps hitting new all-time highs. The crowd thinks they are buying a resilient index. In reality, they are holding a ticking time bomb. And Big Tech is the one lighting the fuse. Apple, Microsoft, Google, Meta are no longer cash machines. Now they are just massive factories drowning in debt. By end of 2026, every cent of profit burns on chips and data centers. Even worse: their own billions aren't enough anymore. Big Tech borrowing exploded 357% in a single year. They are literally begging the market for cash. Why? This is pure FOMO. They're buried in debt for infrastructure that may never turn a profit. If AI doesn't fix productivity, this will be the most expensive bubble in history. And when this bubble bursts, it won't just hit tech. It will drag the entire S&P 500 into the abyss. Remember, I've called every major turn for the last 10 years, including the recent BTC $82K bull trap and the $111K top in October. My next call will be the biggest one this cycle. Turn on notifications. Most people will follow me too late.

MARMOT

300,291 次观看 • 28 天前

Everything is going exactly as I predicted. SpaceX IPO drained liquidity from crypto. Now it's leaking back. But don’t get fooled. This isn't a recovery. It's a classic dead-cat bounce. Real capitulation hasn't started yet. Remember, I warned about the BTC $82k bull trap and Saylor's sell-off before they happened. My next call will be the biggest one this cycle. Turn on notifications. Most people will follow me too late.
0:47

Everything is going exactly as I predicted. SpaceX IPO drained liquidity from crypto. Now it's leaking back. But don’t get fooled. This isn't a recovery. It's a classic dead-cat bounce. Real capitulation hasn't started yet. Remember, I warned about the BTC $82k bull trap and Saylor's sell-off before they happened. My next call will be the biggest one this cycle. Turn on notifications. Most people will follow me too late.

MARMOT

66,584 次观看 • 29 天前

Peter Thiel on $NVDA (about a year ago): It is probably quite tricky. If you had to concretize it, one thing that is very strange is if you just follow the money, at this point 80 to 85% of the money in AI is being made by one company, it is NVIDIA. It is all on this very weird hardware layer, which Silicon Valley does not even know very much about anymore. We do not really do hardware, we do not do silicon chips in Silicon Valley anymore. I get pitched on these companies once every three or four years, and it is always, I have no clue how to do this, it sounds like a pretty good idea, but man, I have no clue, and we never invest. There is this theory that the hardware piece makes the money initially, then gets more commodified over time, and it will shift to software. And the, I do not know, multi trillion dollar question is whether that is going to be true again this time, or whether NVIDIA will have this incredible monopoly. I suspect NVIDIA will. I think it will maintain its position for a while. I think the game theory on it is something like this. All the big tech companies are going to start trying to design their own AI chips so they do not have to pay the 10x markup to NVIDIA. How hard is it for them to do it? How long will it take? If they all do it, then the chips become a commodity and nobody makes money in chips. So do you go into hardware? You should do it if nobody else is doing it. If everybody does it, you should not do it. I am not sure how that nets out, but probably people stay stuck for a while and NVIDIA goes from strength to strength for a while.
1:55

Peter Thiel on $NVDA (about a year ago): It is probably quite tricky. If you had to concretize it, one thing that is very strange is if you just follow the money, at this point 80 to 85% of the money in AI is being made by one company, it is NVIDIA. It is all on this very weird hardware layer, which Silicon Valley does not even know very much about anymore. We do not really do hardware, we do not do silicon chips in Silicon Valley anymore. I get pitched on these companies once every three or four years, and it is always, I have no clue how to do this, it sounds like a pretty good idea, but man, I have no clue, and we never invest. There is this theory that the hardware piece makes the money initially, then gets more commodified over time, and it will shift to software. And the, I do not know, multi trillion dollar question is whether that is going to be true again this time, or whether NVIDIA will have this incredible monopoly. I suspect NVIDIA will. I think it will maintain its position for a while. I think the game theory on it is something like this. All the big tech companies are going to start trying to design their own AI chips so they do not have to pay the 10x markup to NVIDIA. How hard is it for them to do it? How long will it take? If they all do it, then the chips become a commodity and nobody makes money in chips. So do you go into hardware? You should do it if nobody else is doing it. If everybody does it, you should not do it. I am not sure how that nets out, but probably people stay stuck for a while and NVIDIA goes from strength to strength for a while.

Wall St Engine

824,845 次观看 • 7 个月前

Nvidia just invested $2 billion in CoreWeave yesterday. CoreWeave's entire business is renting out data centers packed with Nvidia GPUs. So Nvidia literally gave money to a company that EXISTS to buy Nvidia chips. Then promised to buy $6.3 billion of CoreWeave's unused capacity BACK. This is the most sophisticated circular financing scheme in tech history. Let me repeat that: Nvidia FUNDS CoreWeave → CoreWeave BUYS Nvidia chips → Nvidia BUYS BACK CoreWeave's unused capacity The money goes in a perfect circle. Nvidia → CoreWeave → Nvidia → CoreWeave → Nvidia Every transaction gets booked as "revenue" on both sides. But the cash just keeps rotating. In Bloomberg's own words: "circular financing deals that have lifted valuations of AI companies and fueled concerns about a bubble." Jensen Huang even went on CNBC after the announcement and accidentally admitted the truth: "We've invested $2 billion into CoreWeave, but the amount of funding that needs to be raised yet to support that five gigawatts is really quite significant. We're investing a small percentage of the amount that ultimately has to go and be provided." Translation: CoreWeave is underwater. The $2 billion is a fraction of what they actually need. CoreWeave has signed over $40 billion in contracts. $22.4 billion with OpenAI. $14.2 billion with Meta. $6.3 billion guaranteed purchase from Nvidia. But they don't have the capacity built yet. They're signing contracts for infrastructure that doesn't exist, funded by debt, backed by Nvidia's promise to buy unused capacity. And this goes deeper... CoreWeave started as a Bitcoin mining company called Atlantic Crypto in 2017. After the 2018 crypto crash, they "pivoted" to AI. Crypto crashes. AI booms. Former miners become "AI infrastructure experts" overnight. Now they're signing $40 billion contracts. Nvidia's play is obvious once you see it: Amazon, Google, and Microsoft are building their OWN AI chips. Trainium. TPU. Maia. So Nvidia's building a "shadow cloud" of smaller providers who are 100% dependent on Nvidia chips. Fund them. Lock them into contracts. Guarantee their purchases. When hyperscalers threaten to leave, Nvidia says "we don't need you, we have CoreWeave." It's vertical integration disguised as investment. But yesterday, something broke. CoreWeave's stock jumped 6% on the news. Bitcoin miners who pivoted to AI infrastructure? Crushed. CleanSpark, IREN, TeraWulf all down 10-15%. Because Nvidia just picked its winner. CoreWeave gets priority GPU access. Everyone else is irrelevant. The smart money already left. SoftBank sold its entire $5.8 billion Nvidia stake in November. CEO said he was "crying" to sell. Michael Burry has $1 billion in puts betting Nvidia crashes. Peter Thiel exited his position. They saw the circular financing and got out. Nvidia funds CoreWeave, CoreWeave buys Nvidia chips, Nvidia buys CoreWeave's capacity... This works as long as: 1. Nvidia keeps funding 2. CoreWeave keeps buying 3. Customers keep renting But the second ONE of those breaks, the whole loop collapses. If CoreWeave can't raise more capital, they can't build capacity. If they can't build capacity, they can't fulfill $40 billion in contracts. If they can't fulfill contracts, Meta and OpenAI walk. If customers walk, Nvidia's $6.3 billion capacity guarantee becomes a LIABILITY. This isn't about whether AI is real. AI IS real. This is about whether the infrastructure buildout is real or just financial engineering. Nvidia manufactures demand by funding customers who buy Nvidia products. Those customers sign contracts they can't fulfill without more funding. Nvidia guarantees to buy back unused capacity. Money circulates. Everyone books revenue. But NOBODY asks where actual demand is. This is either the most innovative infrastructure partnership in history, or the most sophisticated ponzi scheme since 2008. The next six months will tell us which.
1:19

Nvidia just invested $2 billion in CoreWeave yesterday. CoreWeave's entire business is renting out data centers packed with Nvidia GPUs. So Nvidia literally gave money to a company that EXISTS to buy Nvidia chips. Then promised to buy $6.3 billion of CoreWeave's unused capacity BACK. This is the most sophisticated circular financing scheme in tech history. Let me repeat that: Nvidia FUNDS CoreWeave → CoreWeave BUYS Nvidia chips → Nvidia BUYS BACK CoreWeave's unused capacity The money goes in a perfect circle. Nvidia → CoreWeave → Nvidia → CoreWeave → Nvidia Every transaction gets booked as "revenue" on both sides. But the cash just keeps rotating. In Bloomberg's own words: "circular financing deals that have lifted valuations of AI companies and fueled concerns about a bubble." Jensen Huang even went on CNBC after the announcement and accidentally admitted the truth: "We've invested $2 billion into CoreWeave, but the amount of funding that needs to be raised yet to support that five gigawatts is really quite significant. We're investing a small percentage of the amount that ultimately has to go and be provided." Translation: CoreWeave is underwater. The $2 billion is a fraction of what they actually need. CoreWeave has signed over $40 billion in contracts. $22.4 billion with OpenAI. $14.2 billion with Meta. $6.3 billion guaranteed purchase from Nvidia. But they don't have the capacity built yet. They're signing contracts for infrastructure that doesn't exist, funded by debt, backed by Nvidia's promise to buy unused capacity. And this goes deeper... CoreWeave started as a Bitcoin mining company called Atlantic Crypto in 2017. After the 2018 crypto crash, they "pivoted" to AI. Crypto crashes. AI booms. Former miners become "AI infrastructure experts" overnight. Now they're signing $40 billion contracts. Nvidia's play is obvious once you see it: Amazon, Google, and Microsoft are building their OWN AI chips. Trainium. TPU. Maia. So Nvidia's building a "shadow cloud" of smaller providers who are 100% dependent on Nvidia chips. Fund them. Lock them into contracts. Guarantee their purchases. When hyperscalers threaten to leave, Nvidia says "we don't need you, we have CoreWeave." It's vertical integration disguised as investment. But yesterday, something broke. CoreWeave's stock jumped 6% on the news. Bitcoin miners who pivoted to AI infrastructure? Crushed. CleanSpark, IREN, TeraWulf all down 10-15%. Because Nvidia just picked its winner. CoreWeave gets priority GPU access. Everyone else is irrelevant. The smart money already left. SoftBank sold its entire $5.8 billion Nvidia stake in November. CEO said he was "crying" to sell. Michael Burry has $1 billion in puts betting Nvidia crashes. Peter Thiel exited his position. They saw the circular financing and got out. Nvidia funds CoreWeave, CoreWeave buys Nvidia chips, Nvidia buys CoreWeave's capacity... This works as long as: 1. Nvidia keeps funding 2. CoreWeave keeps buying 3. Customers keep renting But the second ONE of those breaks, the whole loop collapses. If CoreWeave can't raise more capital, they can't build capacity. If they can't build capacity, they can't fulfill $40 billion in contracts. If they can't fulfill contracts, Meta and OpenAI walk. If customers walk, Nvidia's $6.3 billion capacity guarantee becomes a LIABILITY. This isn't about whether AI is real. AI IS real. This is about whether the infrastructure buildout is real or just financial engineering. Nvidia manufactures demand by funding customers who buy Nvidia products. Those customers sign contracts they can't fulfill without more funding. Nvidia guarantees to buy back unused capacity. Money circulates. Everyone books revenue. But NOBODY asks where actual demand is. This is either the most innovative infrastructure partnership in history, or the most sophisticated ponzi scheme since 2008. The next six months will tell us which.

Ricardo

71,585 次观看 • 5 个月前

🚨 WARNING: SOMETHING VERY BAD IS HAPPENING RIGHT NOW!! The stock market keeps pushing to new all-time highs. Nvidia is leading the charge. But almost nobody is paying attention to the real problem. A huge AI bubble is inflating at incredible speed and about to pop. This has happened before. 2000: Cisco was the "god of the internet" with routers, switches, infrastructure. The stock crashed 90% and never fully recovered. Today: Nvidia is the "god of AI" with chips, data centers, infrastructure. Same role. Same script. But the risk is much bigger. Let me explain why. This time, concentration is extreme. The "Magnificent 7" make up 30% of the S&P 500. If AI falls, the whole index falls. Big Tech CapEx is exploding. $650 billion only in 2026. But where is the ROI? Nobody knows. If Google and Microsoft don't show real profits, they will cut orders. Then Nvidia collapses. Then the whole index follows. Japan, holding trillions in U.S. Treasuries, is about to hike rates. When they sell, global liquidity evaporates. Risk assets get crushed first. This is not 2000. This is 2000 with leverage, concentration, and a liquidity shock loading. For the record, I've called every major turn for the last 10 years, including the $111K top in October. Turn on notifications. When the AI bubble bursts, I'll call it here publicly, like I always do.
0:31

🚨 WARNING: SOMETHING VERY BAD IS HAPPENING RIGHT NOW!! The stock market keeps pushing to new all-time highs. Nvidia is leading the charge. But almost nobody is paying attention to the real problem. A huge AI bubble is inflating at incredible speed and about to pop. This has happened before. 2000: Cisco was the "god of the internet" with routers, switches, infrastructure. The stock crashed 90% and never fully recovered. Today: Nvidia is the "god of AI" with chips, data centers, infrastructure. Same role. Same script. But the risk is much bigger. Let me explain why. This time, concentration is extreme. The "Magnificent 7" make up 30% of the S&P 500. If AI falls, the whole index falls. Big Tech CapEx is exploding. $650 billion only in 2026. But where is the ROI? Nobody knows. If Google and Microsoft don't show real profits, they will cut orders. Then Nvidia collapses. Then the whole index follows. Japan, holding trillions in U.S. Treasuries, is about to hike rates. When they sell, global liquidity evaporates. Risk assets get crushed first. This is not 2000. This is 2000 with leverage, concentration, and a liquidity shock loading. For the record, I've called every major turn for the last 10 years, including the $111K top in October. Turn on notifications. When the AI bubble bursts, I'll call it here publicly, like I always do.

MARMOT

364,965 次观看 • 2 个月前

Nvidia is pulling off the most sophisticated financial loop in tech history. They invested $40 BILLION in its own customers in just 5 months. Here's why this could blow up the entire AI economy: Nvidia generated $97 billion in free cash flow last year. Instead of sitting on it, Jensen started writing checks to every company in the AI supply chain. Not small checks. We're talking about billions at a time. And almost every single one of those companies turns around and spends that money on Nvidia chips. Follow the money: $30 billion into OpenAI. OpenAI is one of Nvidia's largest GPU customers and spends billions annually on Nvidia hardware through cloud providers. $2 billion into CoreWeave, a company that exists exclusively to rent out data centers full of Nvidia GPUs. $2 billion into Marvell for silicon photonics that connects Nvidia systems. $2 billion into Lumentum for optical tech that powers Nvidia data centers. $2 billion into Coherent for the same thing. $2 billion into Nebius, an AI cloud company deploying Nvidia infrastructure. $3.2 billion into Corning, the glassmaker building three new US factories specifically to make fiber optic cables for Nvidia's next-gen systems. $2.1 billion into IREN, a data center operator that just agreed to deploy 5 gigawatts of Nvidia-designed infrastructure. And the list goes on. Every single recipient either buys Nvidia chips directly, builds infrastructure that runs on Nvidia chips, or manufactures components that go inside Nvidia systems. Matthew Bryson, an analyst at Wedbush Securities, said in a research note that Nvidia's dealmaking fits "squarely into the circular investment theme." Bloomberg even published an entire interactive feature this week titled "AI Circular Deals: How Microsoft, OpenAI and Nvidia Keep Paying Each Other." The piece maps how capital flows between the same handful of companies and gets counted as revenue multiple times along the way. But here's the part that makes this genuinely complicated: Nvidia's $5 billion investment in Intel from September is now worth over $25 billion. That's a 5x return in months. Their private company portfolio went from $3.4 billion to $22.3 billion on the balance sheet in a single year. They booked $8.9 billion in gains from equity investments alone. So when critics say "circular investing," Nvidia can point to Intel and say "we turned $5 billion into $25 billion, this is just smart capital deployment." And they're not wrong. Some of these bets ARE paying off like crazy. The real question is whether Nvidia is a chipmaker that happens to invest, or a venture fund that happens to sell chips. Because right now Jensen is doing both at a scale that has never existed in the semiconductor industry. No chipmaker in history has EVER invested $40 billion in its own ecosystem in five months. Last fiscal year Nvidia invested $17.5 billion in private companies. Their SEC filing literally says those investments include "AI model companies that purchase its products directly or through cloud service providers." They're saying it themselves: We invest in companies that buy our products. On Nvidia's last earnings call, Jensen told investors their investments are focused on "expanding and deepening our ecosystem reach." Translate that from CEO-speak and it means " we're funding the companies that fund us. The bull case says Nvidia is building an unbreakable moat by financing the entire AI supply chain and ensuring it all runs on Nvidia hardware. The bear case says this is the most elaborate circular revenue scheme since the subprime mortgage era and it all breaks apart the moment one domino falls. Both cases use the exact same evidence.
1:01

Nvidia is pulling off the most sophisticated financial loop in tech history. They invested $40 BILLION in its own customers in just 5 months. Here's why this could blow up the entire AI economy: Nvidia generated $97 billion in free cash flow last year. Instead of sitting on it, Jensen started writing checks to every company in the AI supply chain. Not small checks. We're talking about billions at a time. And almost every single one of those companies turns around and spends that money on Nvidia chips. Follow the money: $30 billion into OpenAI. OpenAI is one of Nvidia's largest GPU customers and spends billions annually on Nvidia hardware through cloud providers. $2 billion into CoreWeave, a company that exists exclusively to rent out data centers full of Nvidia GPUs. $2 billion into Marvell for silicon photonics that connects Nvidia systems. $2 billion into Lumentum for optical tech that powers Nvidia data centers. $2 billion into Coherent for the same thing. $2 billion into Nebius, an AI cloud company deploying Nvidia infrastructure. $3.2 billion into Corning, the glassmaker building three new US factories specifically to make fiber optic cables for Nvidia's next-gen systems. $2.1 billion into IREN, a data center operator that just agreed to deploy 5 gigawatts of Nvidia-designed infrastructure. And the list goes on. Every single recipient either buys Nvidia chips directly, builds infrastructure that runs on Nvidia chips, or manufactures components that go inside Nvidia systems. Matthew Bryson, an analyst at Wedbush Securities, said in a research note that Nvidia's dealmaking fits "squarely into the circular investment theme." Bloomberg even published an entire interactive feature this week titled "AI Circular Deals: How Microsoft, OpenAI and Nvidia Keep Paying Each Other." The piece maps how capital flows between the same handful of companies and gets counted as revenue multiple times along the way. But here's the part that makes this genuinely complicated: Nvidia's $5 billion investment in Intel from September is now worth over $25 billion. That's a 5x return in months. Their private company portfolio went from $3.4 billion to $22.3 billion on the balance sheet in a single year. They booked $8.9 billion in gains from equity investments alone. So when critics say "circular investing," Nvidia can point to Intel and say "we turned $5 billion into $25 billion, this is just smart capital deployment." And they're not wrong. Some of these bets ARE paying off like crazy. The real question is whether Nvidia is a chipmaker that happens to invest, or a venture fund that happens to sell chips. Because right now Jensen is doing both at a scale that has never existed in the semiconductor industry. No chipmaker in history has EVER invested $40 billion in its own ecosystem in five months. Last fiscal year Nvidia invested $17.5 billion in private companies. Their SEC filing literally says those investments include "AI model companies that purchase its products directly or through cloud service providers." They're saying it themselves: We invest in companies that buy our products. On Nvidia's last earnings call, Jensen told investors their investments are focused on "expanding and deepening our ecosystem reach." Translate that from CEO-speak and it means " we're funding the companies that fund us. The bull case says Nvidia is building an unbreakable moat by financing the entire AI supply chain and ensuring it all runs on Nvidia hardware. The bear case says this is the most elaborate circular revenue scheme since the subprime mortgage era and it all breaks apart the moment one domino falls. Both cases use the exact same evidence.

Ricardo

159,113 次观看 • 2 个月前

PROOF THAT AI IS A PONZI SCHEME (and why it's the reason for Bitcoin's crash): Nvidia just posted the most insane earnings in tech history. $31.9 billion in profit. $57 billion in revenue. 65% profit jump year-over-year. Stock rallied immediately. Then 18 hours later, it dropped 5%. And when people looked closer at the numbers, they found something absolutely wild... The Unpaid Bills Nobody Talked About: Nvidia's accounts receivable jumped to $33.4 billion. That's up 89% in one year. Translation: $33 billion worth of "sales" that haven't been paid yet. The average wait time for payment went from 46 days to 53 days. That extra week of waiting? $10.4 billion that may never turn into actual cash. They're booking revenue. But customers aren't paying. The Inventory That Shouldn't Exist: Unsold chip inventory surged 32% in three months to $19.8 billion. Meanwhile, Nvidia's CEO keeps saying demand is "insane" and they can't make chips fast enough. If demand is so crazy, why is inventory piling up? Either customers aren't buying with cash, or the demand story is bullshit. The Profit vs Cash Problem: Nvidia reported $19.3 billion in profit. But only generated $14.5 billion in actual cash flow. That's a $4.8 billion gap. Their profit-to-cash conversion is 75%. TSMC and AMD? Over 95%. When profit doesn't turn into cash, something's wrong. Here's Where It Gets Insane: The money is going in circles. And the same dollars are being counted as revenue multiple times. Follow this: - Nvidia gave xAI $2 billion - xAI borrowed $12.5 billion to buy Nvidia chips - Microsoft invested $13 billion in OpenAI - OpenAI committed $50 billion to Microsoft's cloud - Microsoft ordered $100 billion in Nvidia chips for that cloud - Oracle gave OpenAI $300 billion in cloud credits - OpenAI used those credits to order Nvidia chips for Oracle data centers The money goes in a circle. Nvidia → xAI → Nvidia Microsoft → OpenAI → Microsoft → Nvidia Oracle → OpenAI → Oracle → Nvidia Everyone books revenue. Nobody's actually paying cash. It's financial engineering disguised as growth. The Smart Money Already Left: Peter Thiel sold his Nvidia stake. SoftBank dumped massive positions. Michael Burry (the guy who called 2008) bought $1.1 billion in put options betting Nvidia crashes. They saw the numbers before everyone else did. And they got out. The Bitcoin Collapse: Bitcoin crashed almost 30% from $126,000 to $89,567. Why does this matter? AI startups use Bitcoin as collateral for loans. If Nvidia's crisis deepens, those startups get margin called. They're forced to sell Bitcoin to cover. Which crashes Bitcoin further. Which triggers more margin calls. Analysts think it could hit $52,000 if this unravels. The MIT Reality Check: OpenAI is valued at $157 billion. MIT released a study saying 95% of AI projects will never be profitable. Not "might struggle." NEVER be profitable. The entire sector is built on inflated expectations. What Happens Next: February 2026: Nvidia's Q4 report shows how many bills are 60+ days overdue. March 2026: Credit agencies start downgrading Nvidia and related companies. April 2026: First earnings restatements hit. The whole thing unwinds. Some experts are calling this a Ponzi scheme. No formal fraud investigation yet. But the structure is there: - Use new investor money to pay old investors - Inflate revenue with circular deals - Book sales before receiving cash - Keep the music playing until someone asks for their money Nvidia executives deny everything. Say it's real growth. Real demand. Real transformation. But the numbers don't lie. $10.4 billion in delayed payments. $19.8 billion in unsold inventory. $4.8 billion profit-to-cash gap. Circular funding loops inflating revenue. This is either the biggest tech transformation in history, or the biggest financial engineering scam since 2008. The next three months will tell us which one it is. What are you betting on?
3:21

PROOF THAT AI IS A PONZI SCHEME (and why it's the reason for Bitcoin's crash): Nvidia just posted the most insane earnings in tech history. $31.9 billion in profit. $57 billion in revenue. 65% profit jump year-over-year. Stock rallied immediately. Then 18 hours later, it dropped 5%. And when people looked closer at the numbers, they found something absolutely wild... The Unpaid Bills Nobody Talked About: Nvidia's accounts receivable jumped to $33.4 billion. That's up 89% in one year. Translation: $33 billion worth of "sales" that haven't been paid yet. The average wait time for payment went from 46 days to 53 days. That extra week of waiting? $10.4 billion that may never turn into actual cash. They're booking revenue. But customers aren't paying. The Inventory That Shouldn't Exist: Unsold chip inventory surged 32% in three months to $19.8 billion. Meanwhile, Nvidia's CEO keeps saying demand is "insane" and they can't make chips fast enough. If demand is so crazy, why is inventory piling up? Either customers aren't buying with cash, or the demand story is bullshit. The Profit vs Cash Problem: Nvidia reported $19.3 billion in profit. But only generated $14.5 billion in actual cash flow. That's a $4.8 billion gap. Their profit-to-cash conversion is 75%. TSMC and AMD? Over 95%. When profit doesn't turn into cash, something's wrong. Here's Where It Gets Insane: The money is going in circles. And the same dollars are being counted as revenue multiple times. Follow this: - Nvidia gave xAI $2 billion - xAI borrowed $12.5 billion to buy Nvidia chips - Microsoft invested $13 billion in OpenAI - OpenAI committed $50 billion to Microsoft's cloud - Microsoft ordered $100 billion in Nvidia chips for that cloud - Oracle gave OpenAI $300 billion in cloud credits - OpenAI used those credits to order Nvidia chips for Oracle data centers The money goes in a circle. Nvidia → xAI → Nvidia Microsoft → OpenAI → Microsoft → Nvidia Oracle → OpenAI → Oracle → Nvidia Everyone books revenue. Nobody's actually paying cash. It's financial engineering disguised as growth. The Smart Money Already Left: Peter Thiel sold his Nvidia stake. SoftBank dumped massive positions. Michael Burry (the guy who called 2008) bought $1.1 billion in put options betting Nvidia crashes. They saw the numbers before everyone else did. And they got out. The Bitcoin Collapse: Bitcoin crashed almost 30% from $126,000 to $89,567. Why does this matter? AI startups use Bitcoin as collateral for loans. If Nvidia's crisis deepens, those startups get margin called. They're forced to sell Bitcoin to cover. Which crashes Bitcoin further. Which triggers more margin calls. Analysts think it could hit $52,000 if this unravels. The MIT Reality Check: OpenAI is valued at $157 billion. MIT released a study saying 95% of AI projects will never be profitable. Not "might struggle." NEVER be profitable. The entire sector is built on inflated expectations. What Happens Next: February 2026: Nvidia's Q4 report shows how many bills are 60+ days overdue. March 2026: Credit agencies start downgrading Nvidia and related companies. April 2026: First earnings restatements hit. The whole thing unwinds. Some experts are calling this a Ponzi scheme. No formal fraud investigation yet. But the structure is there: - Use new investor money to pay old investors - Inflate revenue with circular deals - Book sales before receiving cash - Keep the music playing until someone asks for their money Nvidia executives deny everything. Say it's real growth. Real demand. Real transformation. But the numbers don't lie. $10.4 billion in delayed payments. $19.8 billion in unsold inventory. $4.8 billion profit-to-cash gap. Circular funding loops inflating revenue. This is either the biggest tech transformation in history, or the biggest financial engineering scam since 2008. The next three months will tell us which one it is. What are you betting on?

Ricardo

212,902 次观看 • 7 个月前

🚨 THIS IS HOW THE AI BUBBLE WILL BREAK THE S&P 500 Microsoft gave OpenAI $13B. OpenAI sent it back through Azure. Microsoft booked it as revenue. Google committed $40B to Anthropic. Anthropic agreed to send it back through Google Cloud and chips. They all call this loop “revenue.” Let's connect the dots: - Big Tech invests in the AI. - The AI buys Big Tech cloud. - Big Tech reports AI growth. - AI valuations explode. And Wall Street calls it demand. Ray Dalio warned that late-stage bubbles are driven by loops. That is what this looks like now. The technology is real. But the money is moving in circles. When holders finally ask how much of this “AI demand” is real, the bubble will burst. Reminder: I’ve called all the market tops and bottoms for the last 15 years, including the Bitcoin bottom at $16,000 and the top at $126,000. The next call will be even more important. When I exit the markets completely, I’ll post it here publicly like I always do. Turn notifications on. If you’re not following yet, you’ll understand why that was a mistake later.
0:25

🚨 THIS IS HOW THE AI BUBBLE WILL BREAK THE S&P 500 Microsoft gave OpenAI $13B. OpenAI sent it back through Azure. Microsoft booked it as revenue. Google committed $40B to Anthropic. Anthropic agreed to send it back through Google Cloud and chips. They all call this loop “revenue.” Let's connect the dots: - Big Tech invests in the AI. - The AI buys Big Tech cloud. - Big Tech reports AI growth. - AI valuations explode. And Wall Street calls it demand. Ray Dalio warned that late-stage bubbles are driven by loops. That is what this looks like now. The technology is real. But the money is moving in circles. When holders finally ask how much of this “AI demand” is real, the bubble will burst. Reminder: I’ve called all the market tops and bottoms for the last 15 years, including the Bitcoin bottom at $16,000 and the top at $126,000. The next call will be even more important. When I exit the markets completely, I’ll post it here publicly like I always do. Turn notifications on. If you’re not following yet, you’ll understand why that was a mistake later.

Alex Mason 👁△

289,653 次观看 • 23 天前

🚨 THIS IS HOW THE AI BUBBLE WILL BREAK THE S&P 500 Microsoft gave OpenAI $13B. OpenAI sent it back through Azure. Microsoft booked it as revenue. Google committed $40B to Anthropic. Anthropic agreed to send it back through Google Cloud and chips. They all call this loop “revenue.” Let's connect the dots: - Big Tech invests in the AI. - The AI buys Big Tech cloud. - Big Tech reports AI growth. - AI valuations explode. And Wall Street calls it demand. Ray Dalio warned that late-stage bubbles are driven by loops. That is what this looks like now. The technology is real. But the money is moving in circles. When holders finally ask how much of this “AI demand” is real, the bubble will burst. Reminder: I’ve called all the market tops and bottoms for the last 15 years, including the Bitcoin bottom at $16,000 and the top at $126,000. The next call will be even more important. When I exit the markets completely, I’ll post it here publicly like I always do. Turn notifications on. If you’re not following yet, you’ll understand why that was a mistake later.
0:34

🚨 THIS IS HOW THE AI BUBBLE WILL BREAK THE S&P 500 Microsoft gave OpenAI $13B. OpenAI sent it back through Azure. Microsoft booked it as revenue. Google committed $40B to Anthropic. Anthropic agreed to send it back through Google Cloud and chips. They all call this loop “revenue.” Let's connect the dots: - Big Tech invests in the AI. - The AI buys Big Tech cloud. - Big Tech reports AI growth. - AI valuations explode. And Wall Street calls it demand. Ray Dalio warned that late-stage bubbles are driven by loops. That is what this looks like now. The technology is real. But the money is moving in circles. When holders finally ask how much of this “AI demand” is real, the bubble will burst. Reminder: I’ve called all the market tops and bottoms for the last 15 years, including the Bitcoin bottom at $16,000 and the top at $126,000. The next call will be even more important. When I exit the markets completely, I’ll post it here publicly like I always do. Turn notifications on. If you’re not following yet, you’ll understand why that was a mistake later.

WhaleTwits

52,506 次观看 • 23 天前

KERNEN: Speaking of Nvidia, I don't know if it's a shakedown, but it doesn't seem normal to say 'yeah you can sell your chips to China, we just want 15%.' How can you justify that? HASSETT: There is a serious national security risk if the Chinese Nvidia chips lead to the Chinese getting a huge head start in AI KERNEN: How does getting 15% solve that?
1:20

KERNEN: Speaking of Nvidia, I don't know if it's a shakedown, but it doesn't seem normal to say 'yeah you can sell your chips to China, we just want 15%.' How can you justify that? HASSETT: There is a serious national security risk if the Chinese Nvidia chips lead to the Chinese getting a huge head start in AI KERNEN: How does getting 15% solve that?

Aaron Rupar

300,987 次观看 • 9 个月前

Wall Street just pulled off the exact move that turned 2008 from a housing problem into a global collapse. They turned Nvidia graphics cards into bonds, stamped them investment grade, and started selling them into the funds that hold retirement money. Here is what happened while everyone was busy arguing about whether AI stocks were overvalued: The company at the center is CoreWeave, which rents out Nvidia chips to AI companies. To buy those chips, it borrows enormous sums, and the collateral on the loans is the chips themselves. That alone is alarming because a graphics card LOSES most of its value within a few years as the next generation makes it obsolete. You are lending against an asset built to rot. In January, Nvidia invested $2 billion straight into CoreWeave, which then used borrowed money to buy more Nvidia chips. On March 31, CoreWeave closed an $8.5 billion loan backed by its chips, and for the first time the rating agencies stamped that chip-backed debt investment grade, with Moody's assigning it an A3. Debt secured by depreciating graphics cards was rated nearly as SAFE as a blue-chip corporate bond. Then on May 18, CoreWeave closed the first chip-backed facility designed to be publicly syndicated and traded on secondary markets. And that's the part that really matters because it means this debt can now be sliced up, passed around, and bought by anyone, including the bond funds and pension managers who are required to hold "safe" investment-grade paper. On June 11, it announced another $3.5 billion in bonds on top of all of it. Now compare this to what happened in the past: Subprime mortgages in 2007 were not dangerous because some people got loans they couldn't repay... They became a global bomb the moment that debt got rated AAA and sold into the wider financial system, because the rating is what let it bleed into money market funds, pensions, and bank balance sheets that were supposed to be boring and safe. The bad loans were the spark but the packaging and rating were the detonator. And that detonator just got built for AI. Debt backed by graphics cards is now rated investment grade and trades on secondary markets, which means the AI bubble is no longer trapped inside tech stocks you can choose not to own. It has been quietly converted into bonds and routed toward the retirement accounts of people who have never typed a single prompt in their lives. And the whole structure rests on a backlog of customer "commitments" that CoreWeave values at nearly $100 BILLION, backed by a $21 billion Meta deal and a $6 billion Jane Street deal. Those are promises to pay over many years, made by AI companies that are themselves mostly unprofitable and burning cash. If even a few of those customers slow down or walk away, the collateral sitting under all this rated debt is a warehouse of chips losing value by the month. The AI bubble used to be a stock-market story you could opt out of. But as of this spring, that isn't the case anymore. So here's the real question: When the people packaging this debt swear to you that it's safe, who do you think is standing on the other side of that trade?
0:41

Wall Street just pulled off the exact move that turned 2008 from a housing problem into a global collapse. They turned Nvidia graphics cards into bonds, stamped them investment grade, and started selling them into the funds that hold retirement money. Here is what happened while everyone was busy arguing about whether AI stocks were overvalued: The company at the center is CoreWeave, which rents out Nvidia chips to AI companies. To buy those chips, it borrows enormous sums, and the collateral on the loans is the chips themselves. That alone is alarming because a graphics card LOSES most of its value within a few years as the next generation makes it obsolete. You are lending against an asset built to rot. In January, Nvidia invested $2 billion straight into CoreWeave, which then used borrowed money to buy more Nvidia chips. On March 31, CoreWeave closed an $8.5 billion loan backed by its chips, and for the first time the rating agencies stamped that chip-backed debt investment grade, with Moody's assigning it an A3. Debt secured by depreciating graphics cards was rated nearly as SAFE as a blue-chip corporate bond. Then on May 18, CoreWeave closed the first chip-backed facility designed to be publicly syndicated and traded on secondary markets. And that's the part that really matters because it means this debt can now be sliced up, passed around, and bought by anyone, including the bond funds and pension managers who are required to hold "safe" investment-grade paper. On June 11, it announced another $3.5 billion in bonds on top of all of it. Now compare this to what happened in the past: Subprime mortgages in 2007 were not dangerous because some people got loans they couldn't repay... They became a global bomb the moment that debt got rated AAA and sold into the wider financial system, because the rating is what let it bleed into money market funds, pensions, and bank balance sheets that were supposed to be boring and safe. The bad loans were the spark but the packaging and rating were the detonator. And that detonator just got built for AI. Debt backed by graphics cards is now rated investment grade and trades on secondary markets, which means the AI bubble is no longer trapped inside tech stocks you can choose not to own. It has been quietly converted into bonds and routed toward the retirement accounts of people who have never typed a single prompt in their lives. And the whole structure rests on a backlog of customer "commitments" that CoreWeave values at nearly $100 BILLION, backed by a $21 billion Meta deal and a $6 billion Jane Street deal. Those are promises to pay over many years, made by AI companies that are themselves mostly unprofitable and burning cash. If even a few of those customers slow down or walk away, the collateral sitting under all this rated debt is a warehouse of chips losing value by the month. The AI bubble used to be a stock-market story you could opt out of. But as of this spring, that isn't the case anymore. So here's the real question: When the people packaging this debt swear to you that it's safe, who do you think is standing on the other side of that trade?

Ricardo

211,023 次观看 • 29 天前

What if the AI boom is not just a technology race, but a capital machine hiding in plain sight? The deeper I look at this ecosystem, the less it feels like a messy market and the more it looks like a closed financial loop. That is what makes this so striking. → Big Tech funds AI labs and infrastructure → AI labs and cloud players buy chips, GPUs, and networking → Model companies license capabilities back to the same giants funding the buildout What looks complicated is, in many ways, brutally simple. A money machine. And right now, that machine is being priced as if demand, revenue, and adoption will keep compounding with very little friction. That is the part I find most fascinating. Because the numbers are not just big. They are staggering. → Microsoft has invested more than $13B into OpenAI since 2019 → Oracle signed a $300B data centre capacity deal tied to OpenAI through 2029 → Meta is racing from roughly 150,000 NVIDIA GPUs in 2023 to around 1.3 million by the end of 2025 → Broadcom’s AI chip revenue is projected to jump from $3.8B in 2023 to $40B by 2026 What really stands out to me is how concentrated this loop has become. NVIDIA gets paid by nearly everyone. Infrastructure providers benefit early. AI companies are still betting on future monetization. Maybe it works. But that is the real question. Are we looking at durable economics, or one of the most elegantly circular bets the tech world has ever built? Do you think this AI capital loop is sustainable, or are we watching a beautifully engineered cycle that still has to prove itself? #AI #ArtificialIntelligence #OpenAI #NVIDIA #Microsoft #Infrastructure #DataCenters #Investing #BusinessStrategy #Innovation
2:32

What if the AI boom is not just a technology race, but a capital machine hiding in plain sight? The deeper I look at this ecosystem, the less it feels like a messy market and the more it looks like a closed financial loop. That is what makes this so striking. → Big Tech funds AI labs and infrastructure → AI labs and cloud players buy chips, GPUs, and networking → Model companies license capabilities back to the same giants funding the buildout What looks complicated is, in many ways, brutally simple. A money machine. And right now, that machine is being priced as if demand, revenue, and adoption will keep compounding with very little friction. That is the part I find most fascinating. Because the numbers are not just big. They are staggering. → Microsoft has invested more than $13B into OpenAI since 2019 → Oracle signed a $300B data centre capacity deal tied to OpenAI through 2029 → Meta is racing from roughly 150,000 NVIDIA GPUs in 2023 to around 1.3 million by the end of 2025 → Broadcom’s AI chip revenue is projected to jump from $3.8B in 2023 to $40B by 2026 What really stands out to me is how concentrated this loop has become. NVIDIA gets paid by nearly everyone. Infrastructure providers benefit early. AI companies are still betting on future monetization. Maybe it works. But that is the real question. Are we looking at durable economics, or one of the most elegantly circular bets the tech world has ever built? Do you think this AI capital loop is sustainable, or are we watching a beautifully engineered cycle that still has to prove itself? #AI #ArtificialIntelligence #OpenAI #NVIDIA #Microsoft #Infrastructure #DataCenters #Investing #BusinessStrategy #Innovation

Pascal Bornet

13,686 次观看 • 3 个月前

🚨 THIS IS HOW THE AI BUBBLE WILL BREAK THE S&P 500 Read this carefully before buying stocks like $SPCX. S&P 500 keeps hitting new all-time highs. The crowd thinks they are buying a resilient index. In reality, they are holding a ticking time bomb. And Big Tech is the one lighting the fuse. Apple, Microsoft, Google, Meta are no longer cash machines. Now they are just massive factories drowning in debt. By end of 2026, every cent of profit burns on chips and data centers. Even worse: their own billions aren't enough anymore. Big Tech borrowing exploded 357% in a single year. They are literally begging the market for cash. Why? This is pure FOMO. They're buried in debt for infrastructure that may never turn a profit. If AI doesn't fix productivity, this will be the most expensive bubble in history. And when this bubble bursts, it won't just hit tech. It will drag the entire S&P 500 into the abyss. Reminder: I’ve called all the market tops and bottoms for the last 15 years, including the Bitcoin bottom at $16,000 and the top at $126,000. The next call will be even more important. When I exit the markets completely, I’ll post it here publicly like I always do. Turn notifications on. If you’re not following yet, you’ll understand why that was a mistake later.
0:22

🚨 THIS IS HOW THE AI BUBBLE WILL BREAK THE S&P 500 Read this carefully before buying stocks like $SPCX. S&P 500 keeps hitting new all-time highs. The crowd thinks they are buying a resilient index. In reality, they are holding a ticking time bomb. And Big Tech is the one lighting the fuse. Apple, Microsoft, Google, Meta are no longer cash machines. Now they are just massive factories drowning in debt. By end of 2026, every cent of profit burns on chips and data centers. Even worse: their own billions aren't enough anymore. Big Tech borrowing exploded 357% in a single year. They are literally begging the market for cash. Why? This is pure FOMO. They're buried in debt for infrastructure that may never turn a profit. If AI doesn't fix productivity, this will be the most expensive bubble in history. And when this bubble bursts, it won't just hit tech. It will drag the entire S&P 500 into the abyss. Reminder: I’ve called all the market tops and bottoms for the last 15 years, including the Bitcoin bottom at $16,000 and the top at $126,000. The next call will be even more important. When I exit the markets completely, I’ll post it here publicly like I always do. Turn notifications on. If you’re not following yet, you’ll understand why that was a mistake later.

DANNY

41,915 次观看 • 27 天前

Google just launched a direct attack on Nvidia's most valuable asset. Not their chips. Their SOFTWARE. And if this works, Nvidia's $4 trillion empire collapses. Here's what just leaked: Google is building "TorchTPU" - a secret project that makes PyTorch seamlessly run on Google's TPU chips instead of Nvidia GPUs. Why does this matter? PyTorch is the MOST USED AI framework on Earth. Every AI developer uses it. And PyTorch was built around Nvidia's CUDA software. Wall Street analysts call CUDA "Nvidia's strongest defensive wall." It's the reason companies can't easily switch away from Nvidia even when alternatives exist. You don't just buy Nvidia chips. You buy into their entire ecosystem. Switching costs MILLIONS in engineering work. Months of rewrites. Performance drops. So companies stay locked in. Even when Nvidia raises prices. Even when supply runs short. That's not a hardware moat. That's a SOFTWARE prison. And Google just found the escape route. Here's the problem Nvidia created for itself: Google's TPU chips are actually GOOD. Competitive performance. Better availability. Lower cost. But developers won't use them because Google's chips run JAX (Google's internal framework), not PyTorch. That means if you want to use Google TPUs, you have to rewrite your entire codebase. Nobody wants to do that. So Google TPUs sit unused while developers fight over Nvidia chips. Until now. TorchTPU makes PyTorch run natively on Google hardware. No rewrites. No performance loss. No months of engineering. You just... switch. And Google is partnering with META (who built PyTorch) to make it happen. They're even considering OPEN-SOURCING parts of it to speed adoption. Translation: Google is willing to give this away for free just to break Nvidia's lock. The implications are insane: Every company currently paying Nvidia's premium prices suddenly has a way out. Oracle, Microsoft, OpenAI - all locked into Nvidia's ecosystem - can switch to Google. Nvidia's pricing power evaporates overnight. And the timing is perfect: Nvidia is already facing heat. Semiconductor index dropped 3% today. Oracle just lost their biggest investor over AI spending concerns. Companies are realizing AI infrastructure costs are unsustainable. Now Google hands them an alternative. Same performance. Lower cost. Better availability. Jensen Huang knows exactly what this means. CUDA has been Nvidia's untouchable advantage for YEARS. It's why Nvidia trades at 50x earnings while AMD trades at 25x. The software moat justified the premium. But if Google removes that switching cost? Nvidia becomes just another chip company. And chip companies compete on price, not ecosystem lock-in. Here's what happens next: Google needs 12-18 months to make TorchTPU production-ready. If it works, cloud providers will adopt it instantly. They WANT an alternative to Nvidia's monopoly pricing. Amazon already building their own Trainium chips. Microsoft making Maia. They're all trying to escape Nvidia. Google just gave them the software bridge. Nvidia's response options are limited: They can't buy Google. Can't kill PyTorch (Meta owns it). Can't stop open source. Their only play is to keep improving CUDA faster than Google can catch up. But that's a race, not a moat. The market isn't pricing this in yet. Nvidia down 2% today. Google down 2%. Investors think this is just "another competitor." They don't understand this is an attack on the FOUNDATION of Nvidia's valuation. Hardware is replaceable. Software lock-in is what made Nvidia worth $4 trillion. Google is attacking the lock-in. Watch what happens in 2026 when TorchTPU goes live and companies realize they can actually leave Nvidia. The "Nvidia is unstoppable" narrative dies. And a $4 trillion valuation built on software moats gets repriced.
1:10

Google just launched a direct attack on Nvidia's most valuable asset. Not their chips. Their SOFTWARE. And if this works, Nvidia's $4 trillion empire collapses. Here's what just leaked: Google is building "TorchTPU" - a secret project that makes PyTorch seamlessly run on Google's TPU chips instead of Nvidia GPUs. Why does this matter? PyTorch is the MOST USED AI framework on Earth. Every AI developer uses it. And PyTorch was built around Nvidia's CUDA software. Wall Street analysts call CUDA "Nvidia's strongest defensive wall." It's the reason companies can't easily switch away from Nvidia even when alternatives exist. You don't just buy Nvidia chips. You buy into their entire ecosystem. Switching costs MILLIONS in engineering work. Months of rewrites. Performance drops. So companies stay locked in. Even when Nvidia raises prices. Even when supply runs short. That's not a hardware moat. That's a SOFTWARE prison. And Google just found the escape route. Here's the problem Nvidia created for itself: Google's TPU chips are actually GOOD. Competitive performance. Better availability. Lower cost. But developers won't use them because Google's chips run JAX (Google's internal framework), not PyTorch. That means if you want to use Google TPUs, you have to rewrite your entire codebase. Nobody wants to do that. So Google TPUs sit unused while developers fight over Nvidia chips. Until now. TorchTPU makes PyTorch run natively on Google hardware. No rewrites. No performance loss. No months of engineering. You just... switch. And Google is partnering with META (who built PyTorch) to make it happen. They're even considering OPEN-SOURCING parts of it to speed adoption. Translation: Google is willing to give this away for free just to break Nvidia's lock. The implications are insane: Every company currently paying Nvidia's premium prices suddenly has a way out. Oracle, Microsoft, OpenAI - all locked into Nvidia's ecosystem - can switch to Google. Nvidia's pricing power evaporates overnight. And the timing is perfect: Nvidia is already facing heat. Semiconductor index dropped 3% today. Oracle just lost their biggest investor over AI spending concerns. Companies are realizing AI infrastructure costs are unsustainable. Now Google hands them an alternative. Same performance. Lower cost. Better availability. Jensen Huang knows exactly what this means. CUDA has been Nvidia's untouchable advantage for YEARS. It's why Nvidia trades at 50x earnings while AMD trades at 25x. The software moat justified the premium. But if Google removes that switching cost? Nvidia becomes just another chip company. And chip companies compete on price, not ecosystem lock-in. Here's what happens next: Google needs 12-18 months to make TorchTPU production-ready. If it works, cloud providers will adopt it instantly. They WANT an alternative to Nvidia's monopoly pricing. Amazon already building their own Trainium chips. Microsoft making Maia. They're all trying to escape Nvidia. Google just gave them the software bridge. Nvidia's response options are limited: They can't buy Google. Can't kill PyTorch (Meta owns it). Can't stop open source. Their only play is to keep improving CUDA faster than Google can catch up. But that's a race, not a moat. The market isn't pricing this in yet. Nvidia down 2% today. Google down 2%. Investors think this is just "another competitor." They don't understand this is an attack on the FOUNDATION of Nvidia's valuation. Hardware is replaceable. Software lock-in is what made Nvidia worth $4 trillion. Google is attacking the lock-in. Watch what happens in 2026 when TorchTPU goes live and companies realize they can actually leave Nvidia. The "Nvidia is unstoppable" narrative dies. And a $4 trillion valuation built on software moats gets repriced.

Ricardo

1,615,983 次观看 • 6 个月前

🚨 WARNING: NVIDIA x ELON MUSK DEAL IS BUILT ON FAKE NUMBERS!! Michael Burry published an analysis calling the structure “Fugazi”, meaning fake. If the structure is real, we could be heading for a COLLAPSE: He is alleging that BILLIONS of dollars in Nvidia chips are being hidden off balance sheets, and that American retirees are unknowingly funding the whole thing. Nvidia, the world's largest AI chip company sold $5.4 BILLION worth of its most advanced GPUs, the GB200, to a company called Valor. Valor is not a real operating business. It is a special purpose vehicle, a shell company created specifically to hold these chips and nothing else. Nvidia also invested $1.9 BILLION of its own money directly into Valor on top of the sale. Those 100,000+ chips are now physically inside xAI's data center. xAI is Elon Musk's artificial intelligence company, the one that builds Grok. xAI is using every single one of those chips right now to run its AI models. But here is what Burry is flagging. Neither Nvidia nor xAI owns those chips on paper. Valor, the shell company holds legal title. That means $5.4 BILLION in GPU assets do not show up on Nvidia's balance sheet as inventory. They do not show up on xAI's balance sheet as assets. They are legally invisible to both companies. Nvidia gets to book the $5.4 BILLION as a completed sale and record it as revenue. xAI gets full use of the chips without owning them. And the risk disappears into a shell company in the middle. Now here is where American retirees enter the picture. Valor needed $3.5 BILLION in debt to fund this structure. Apollo provided it. Apollo is one of the largest asset managers on earth with $1.03 TRILLION under management and $834 BILLION specifically in private credit. Apollo raised the $3.5 BILLION, packaged it into debt securities, and sold those securities to Athene. Athene is Apollo's own insurance company. It sells fixed and indexed annuities, retirement savings products, to ordinary Americans. When a retiree buys an Athene annuity, they believe their money is sitting in safe, stable investments. That money is now inside a structure funding Elon Musk's AI data center. The numbers inside Athene are most alarming. Athene holds $74.2 BILLION in reserves. It has moved $217 BILLION in assets into a captive insurer based in Bermuda, meaning those assets sit outside normal US insurance regulation and oversight. Of the entire portfolio, 34.7%, equal to $103 BILLION, is classified as Level 3 assets. Level 3 is an accounting classification that means there is no observable market price for these assets. No outside party can independently verify what they are actually worth. The leverage sitting on top of those unpriced assets is 16 times. Burry's says: Every step of this structure is technically legal and publicly disclosed. But the entire thing was deliberately engineered across 8 to 12 steps to move credit risk off balance sheets and away from any market pricing. Nvidia books the revenue. Apollo collects the fees. xAI gets the computing power. And retirees sitting at the bottom of a 16x leveraged Bermuda insurance structure, holding $103 BILLION in assets with no market price carry the risk without knowing it exists. I’ve been in finance for more than 15 years. When I EXIT the markets completely, I’ll say it here publicly, like I always do. Turn notifications on. If you’re not following yet, you’ll understand why that was a mistake later.
0:33

🚨 WARNING: NVIDIA x ELON MUSK DEAL IS BUILT ON FAKE NUMBERS!! Michael Burry published an analysis calling the structure “Fugazi”, meaning fake. If the structure is real, we could be heading for a COLLAPSE: He is alleging that BILLIONS of dollars in Nvidia chips are being hidden off balance sheets, and that American retirees are unknowingly funding the whole thing. Nvidia, the world's largest AI chip company sold $5.4 BILLION worth of its most advanced GPUs, the GB200, to a company called Valor. Valor is not a real operating business. It is a special purpose vehicle, a shell company created specifically to hold these chips and nothing else. Nvidia also invested $1.9 BILLION of its own money directly into Valor on top of the sale. Those 100,000+ chips are now physically inside xAI's data center. xAI is Elon Musk's artificial intelligence company, the one that builds Grok. xAI is using every single one of those chips right now to run its AI models. But here is what Burry is flagging. Neither Nvidia nor xAI owns those chips on paper. Valor, the shell company holds legal title. That means $5.4 BILLION in GPU assets do not show up on Nvidia's balance sheet as inventory. They do not show up on xAI's balance sheet as assets. They are legally invisible to both companies. Nvidia gets to book the $5.4 BILLION as a completed sale and record it as revenue. xAI gets full use of the chips without owning them. And the risk disappears into a shell company in the middle. Now here is where American retirees enter the picture. Valor needed $3.5 BILLION in debt to fund this structure. Apollo provided it. Apollo is one of the largest asset managers on earth with $1.03 TRILLION under management and $834 BILLION specifically in private credit. Apollo raised the $3.5 BILLION, packaged it into debt securities, and sold those securities to Athene. Athene is Apollo's own insurance company. It sells fixed and indexed annuities, retirement savings products, to ordinary Americans. When a retiree buys an Athene annuity, they believe their money is sitting in safe, stable investments. That money is now inside a structure funding Elon Musk's AI data center. The numbers inside Athene are most alarming. Athene holds $74.2 BILLION in reserves. It has moved $217 BILLION in assets into a captive insurer based in Bermuda, meaning those assets sit outside normal US insurance regulation and oversight. Of the entire portfolio, 34.7%, equal to $103 BILLION, is classified as Level 3 assets. Level 3 is an accounting classification that means there is no observable market price for these assets. No outside party can independently verify what they are actually worth. The leverage sitting on top of those unpriced assets is 16 times. Burry's says: Every step of this structure is technically legal and publicly disclosed. But the entire thing was deliberately engineered across 8 to 12 steps to move credit risk off balance sheets and away from any market pricing. Nvidia books the revenue. Apollo collects the fees. xAI gets the computing power. And retirees sitting at the bottom of a 16x leveraged Bermuda insurance structure, holding $103 BILLION in assets with no market price carry the risk without knowing it exists. I’ve been in finance for more than 15 years. When I EXIT the markets completely, I’ll say it here publicly, like I always do. Turn notifications on. If you’re not following yet, you’ll understand why that was a mistake later.

WhaleTwits

48,705 次观看 • 1 个月前

Nvidia is buying $100 billion of it's own chips using OpenAI as a middle man. What can Al Bundy teach us about the Ai Bubble? $NVDA #AiMania
7:32

Nvidia is buying $100 billion of it's own chips using OpenAI as a middle man. What can Al Bundy teach us about the Ai Bubble? $NVDA #AiMania

Nobody Special

83,886 次观看 • 9 个月前

NVIDIA Vera Rubin is in full production and arrives just in time for the next frontier of AI. The #NVIDIARubin platform uses extreme co-design across six new chips to accelerate agentic AI, advanced reasoning and massive-scale MoE model inference. NVIDIA Vera Rubin NVL72: Six new chips, one AI supercomputer — see how we built it.
2:50

NVIDIA Vera Rubin is in full production and arrives just in time for the next frontier of AI. The #NVIDIARubin platform uses extreme co-design across six new chips to accelerate agentic AI, advanced reasoning and massive-scale MoE model inference. NVIDIA Vera Rubin NVL72: Six new chips, one AI supercomputer — see how we built it.

NVIDIA Data Center

27,643 次观看 • 6 个月前