

Enron crashed because they were cooking their books and faking income, declaring potential profit where none existed
-
Sell chips to X
-
Receive stock in X
-
Value of stocks = discounted sum of future (fake) income
-
Booked as an asset on the balance sheet
This is exactly like Enron but the underlying commodity isn’t energy, it’s compute.








Nvidia has cuda. Most ai only used cuda so only uses nvidia, but people are working too get over that particular moat