The chipmaker’s sprawling partnerships are driving extraordinary growth but also bank its future on the AI boom paying off quickly
  • Knock_Knock_Lemmy_In@lemmy.worldEnglish
    1·
    18 days ago

    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.