A flurry of billion-dollar circular deals in the AI space has analysts drawing uncomfortable parallels with the dotcom bubble.
Most of these deals are centred around two industry leaders — Nvidia and OpenAI, raising concerns that an increasingly complex and interconnected web of business transactions is artificially propping up the trillion-dollar AI boom. Indeed, detractors are pointing out that these deals do not create any actual value.
The proponents, however, say these are necessary to meet the surging demand for the new-age technology.
The…
