Whalesbook
The AI boom is facing intense scrutiny over its financial health. Nvidia's reported profits show a significant gap with actual cash on hand, unlike its peers. The article highlights an ecosystem where demand is driven by favors and credits, with companies like OpenAI posting massive losses yet commanding huge valuations. Investors are cautioned against FOMO (Fear of Missing Out), emphasizing that cash flow is the true indicator of value, and the current AI financial structure might face a sharp correction.