The Joseph Carlson Show Why Investors Are Concerned About Circular Financing Of Top AI Companies
Oct 8, 2025
The podcast dives into the concerns surrounding circular financing in the AI industry. It explores how interconnected deals among major players like OpenAI, NVIDIA, and AMD may inflate revenue misleadingly. Joseph discusses the implications of these partnerships and compares them to the dot-com bubble strategies. Insights from Jeff Bezos about focusing on fundamentals over stock prices are also highlighted. The episode wraps with cautionary advice on investing sensibly and questioning unrealistic income promises.
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Interconnected AI Deals Create A Web
- Major AI companies are forming a dense web of interlocking deals that looks like money circling between the same firms.
- This pattern can artificially inflate revenue and make true organic growth hard to discern.
Juice And Bottle Example
- Joseph Carlson uses a juice-and-bottle example to show how one company's investment can masquerade as revenue growth.
- He explains the bottle company buying juice creates misleading revenue that originated from the same corporate group.
OpenAI And NVIDIA As Central Nodes
- OpenAI and NVIDIA are central nodes in a series of huge reciprocal deals that amplify each other's demand and valuations.
- Those linked transactions ripple across markets from cloud and chips to real estate and energy.
