It’s not a fact because the “circular financing” numbers don’t match at all up with Nvidia’s revenue.

Also if you think about this for anymore than a few milliseconds you realize that if Nvidia was giving away 90B to get back 90B in revenue, then none of the capex spend being reported by the hyperscalers would make any sense.

We know that Google, Meta, SpaceX, Microsoft, Nebius, CoreWeave, Amazon, are all buying huge amounts of Nvidia chips, with their own money!

This is all public info. The amounts of money Nvidia has invested in companies are tiny in comparison with their own revenue.

The amounts of “circular financing” are a drop in the bucket compared to, surprise, actual companies buying their product.