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This isn't a bubble
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Right, loans and stock market shenanigans are different animals. I assumed you were talking about the former given the context of "how did OpenAI find the money to pay AMD $78bn".
In retrospect, I suppose options could have played a factor... but then again this level of ratfuckery is well beyond my understanding, so you could tell me Santa gave them the money and it'd make just as much sense.