[heywoods]

Is it fair to say OpenAI is in a sense “washing” the money passing between Nvidia and Oracle? And instead of taking a cut in the traditional money laundering they are enjoying massive valuation gains?

When the fed investigates this does it matter if one of the 3 companies is not a publicly traded company?

[scott_w]

I guess you could see it like that but I don’t think it’s “wash trading” in the sense that they’re coordinating it. I don’t really know what the fed would investigate here.

[XorNot]

What you're missing is that real value can be created in these exchanges - Nvidia really makes chips for example.

The issue is that it's an industry of investment which exists solely to power more investment in AI - the entire chain is still assuming that someone will eventually pay for this.

At the end of the day all that money leaks out to employees and suppliers...but no one those people transact with may have any interest in buying what was produced.

[neuronic]

That's only really value if the chips are useful and if there are people buying the chips for something they want to do with them.

It's entirely based on the perception that LLM training & inference is here to stay at ever growing scales when the shortcomings of Artificial Dreaming are increasingly scrutinized. Not all businesses want to end up paying refunds to their clients like Deloitte [1] because the LLM hallucinated crap into their reports (and they failed to correct it).

[1] https://www.theguardian.com/australia-news/2025/oct/06/deloi...

[skatingaway]

Leaks out? Don’t you mean “trickles down”?