Circular financing

Money loops that manufacture demand signals inside the AI economy: Nvidia invests in CoreWeave, which borrows to buy Nvidia GPUs, which Nvidia rents back ($1.3B contract) so CoreWeave can show a customer to lenders; hyperscalers fund OpenAI/Anthropic, whose spending becomes the hyperscalers' reported "AI revenue" (~70% of it). The loop inflates every number the market prices.

Source: report