All of “circular” those bets only work if there are real purchase orders and real revenue. In fact the two major deals are literally tied to that.

So it doesn’t answer my question. Real GPUs are bought. Presumably because real consumption is taking place. Presumably because real value (productivity) is produced. Which in turn reduces knowledge work labor (maybe?). Which may destroy jobs. Which reduces excess income and consumption in… a consumer-driven economy.

My point is, it’s actually not rational for the worst actors you could imagine. There’s a link in the chain missing for me logically and I think “billionaires” actually isn’t the answer.