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Rabbit hole No. 003 · New

The AI money goes around in a loop

Four companies guided to more than $740 billion of capex for 2026. Some of the dollars are aimed back at the company that put them in.

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  1. NvidiaPuts in $30 billion
  2. OpenAISays the deal comes with 3 gigawatts
  3. AMDHands over its own stock
  4. CoreWeaveNvidia rents back the leftovers

February 27, 2026. OpenAI said Nvidia was putting $30 billion into a $110 billion round. The September letter, up to $100 billion, is the deal that got put on ice.

Four announced loops. None of these is a receipt.
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001 Does history run on an 80-year clock? Live 002 A hundred trillion ghosts just went through you Live 003 The AI money goes around in a loop New
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