《Nvidia Quadruples Down On Circular Financing》
NVDA的循环融资产生了隐藏的表外风险和或有负债，掩盖了其真实的财务状况。
这显示了英伟达、OpenAI 以及众多云服务提供商之间错综复杂的金融交易网络。每个人都知道循环融资安排。这是公开进行的，并被主流媒体广泛报道。然而投资者似乎并不在意。这导致了一种超现实的局面，即AI泡沫膨胀到怪异的规模，即使危险信号不断堆积。
It shows the complicated web of financial transactions between Nvidia, OpenAI, and numerous cloud service providers. Everybody knows about the circular financing arrangements. It's done out in the open and is widely reported on by the mainstream media.
Yet investors don't seem to care. This has led to a surreal situation where the AI bubble has inflated to a grotesque size even as the red flags pile up.