Intro

Nvidia isn’t just selling chips. It’s investing billions into the very companies that turn around and buy its GPUs. From CoreWeave to OpenAI, Nvidia’s strategy has some calling it “circular financing,” where money goes out only to come right back in. But is this brilliance, or the setup for a massive data center collapse? In this deep dive, we break down Nvidia’s web of influence, the risks of circular financing, and whether the AI boom is heading toward bubble territory.