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No, it's not "corruption". It's that very little real money changes hands. The smaller investors and debt providers get sucked into funding it but that's about it.

You get GPU rentals. Not the actual billions raised they claim. So it's just creative accounting to count the same money 2-4x.

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Hah. Well, back in ~2004 we had a different name for "creative accounting" to generate "revenue" while very little money chnages hands. Back then we called it fraud. But I guess terminology changes.

This kind of circular deals are very common and doesn't violate any laws. It's the magnitude and prevalence of it in the AI sector that flashes a warning sign.

A lot of stuff doesn't violate any laws until it does. Laws are created after the crimes have already happened. That's why we have the letter of law vs the spirit of the law.

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