Nvidia’s CEO resigns, its stock loses billions, OpenAI needs more capital, and Anthropic is preparing for a trillion-dollar IPO All of this happening at once is crazy Nvidia has jumped from $184B to $530B in financial commitments $105B connected to OpenAI’s data center guarantee $63B in customer receivables $25B borrowed in one quarter And Anthropic has roughly $900B in contractual obligations, mostly related to compute and infrastructure At what point do we stop celebrating billion-dollar AI deals and start asking who is actually going to pay for them? AI might be the biggest opportunity of this decade, but that doesn’t mean every company involved deserves a trillion-dollar valuation I want to see whether investors are still willing to pay any price for the AI narrative Because hype is easy when everything is going up The real test comes when the numbers start getting uncomfortable