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Deep dive on Nvidia circular funding
VIDIA frenemy relation with OpenAI and Oracle I’ve spent the last 48 hours completely falling down the rabbit hole of NVIDIA’s Q3 Fiscal 2026 earnings report. If you just skim the headlines, everything looks perfect: Revenue is up 62% to $57 billion, and Jensen Huang is talking about a "virtuous cycle of AI." But I wanted to understand what was really happening under the hood, so I dug into the balance sheet and cross-referenced it with all the news swirling around OpenAI and Oracle.
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