AI titans’ ‘circular deals’ are starting to look like ‘daisy chains’
The “circular deals” among AI titans increasingly resemble the “daisy chains” of the 1980s savings-and-loan crisis. Forty years ago, interconnected transactions obscured the dangers, multiplied systemic risks and helped inflate asset values before roughly a third of US thrift banks failed. Today’s financial engineering – an incestuous ecosystem of interlocking multi-year commitments to provide…
We haven't written up this one. Reuters Business via SCMP has the full story — the link below goes straight to it.
