Unhedged AI peak is peak AI
91 snips
Oct 9, 2025 
In this discussion, John Foley, Editor of the Lex column at the Financial Times, unravels the intricate web of AI investments among tech giants like OpenAI, NVIDIA, and Google. He explores whether AI is enriching everyone or merely entwining companies in complex partnerships. The duo also dives into the strategic maneuvering of OpenAI and the challenges of securing customer cash. Plus, they speculate on future AI beneficiaries while making bold predictions about rising beef and chocolate prices.
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Web Of Interdependent AI Players
- The AI ecosystem is tightly interlinked with firms acting as suppliers, customers, and investors in one another.
- These cross-relationships speed deployment but make the network complex and opaque to outsiders.
OpenAI's Leverage Over Suppliers
- OpenAI can dictate terms because everyone wants access and will offer chips, data centers or capital.
- That leverage lets Sam Altman mix equity, stock gifts and commercial commitments to secure resources.
Circular Holdings Hide True Revenue
- Big cross-holdings can mask where revenues truly come from and blur ownership exposure.
- Circular stakes create murkiness for investors trying to assess real cash flows.