1. OpenAI hemorrhages money (on the order of $10's of billions a year).
1a. A subargument that this hemorrhaging is rather fundamental--OpenAI isn't anywhere close to breaking even on operational costs, and it seems that OpenAI is getting sweetheart deals on compute that aren't going to last very long.
2. There's very few entities capable of maintaining the pipeline of money that OpenAI desperately needs.
3. Most of those (this article claims) are unwilling to stump for the cash.
4. OpenAI's capital expenditures (this article claims) are a major (if not existential) source of revenue for its suppliers, so if OpenAI implodes, it presents a risk to many other tech companies as well via the network of suppliers.
The problem with this article is that, as much as I might be inclined to agree with it based on my priors, I just don't see any actual plausible way that OpenAI implodes spectacularly like that. If the funding dries up, the most likely scenario to me is that OpenAI undergoes a crunch mode where it tries to eke out an operational profit while begging everybody else (including probably the government) to finance capital expenditures at a reduced rate. Instead of a big bang like Lehman Brothers was, it instead would look a lot more like a longer, slower decline where the tech industry underperforms the market rather than explosively driving it.