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This shit is dead as disco. Needs $174 billion in debt to get off the ground and had to pull its IPO because it makes no money and won’t make a dime off OpenAI until, at best, 2028, and that is making a lot of assumptions about OpenAI’s solvency

Carl Quintanilla@carlquintanilla.bsky.social

Four-byline alert: 🚨 “.. the second company in a week to be wrongfooted by concerns about a slowdown in the AI sector.” @financialtimes.com www.ft.com/content/4a80...

Ed Zitron

@edzitron.com

Hey yeah, we’re SB energy. You may get wondering how we make money - well our only customer is OpenAI, and we need $174 billion in debt to service the contract in maybe two or three years minimum. We pulled our IPO, but don’t worry, we also borrow at 10% to build complex infrastructure projects!