Meta Has The Worst Capital Allocation Track Record In Tech – It Will Lose The Most On AI Too
Inside Today’s Issue
Essay: How AI Will End Zuck
Big Quarter For Energy
Consumers Spent Less
Groceries Cost More
Chart Of The Day… BWX Technologies
Today’s Mailbag
Editor’s note: Today, Porter shares the third story of a multi-part series on the AI buildout – and its long-term consequences.
On Tuesday and Wednesday of this week, we documented the creation of an enormous bubble in demand for data centers and compute. We’ve described the circular nature of Nvidia’s (NVDA) investments and vendor financing, and we’ve shown you how its upcoming $500 billion debt deal will be used to complete the OpenAI and Anthropic buildout.
But Nvidia isn’t the company most at risk from extreme vendor financing deals… Who is most at risk?
