Jason Calacanis

But the internet took this and ran with it in a very viral way that he was angry and he was hostile.

How did you take it?

And...

This is the information reporting on leaked internal numbers or the information is taking a guess?

This is an important point because we don't know, we haven't seen these actual deals.

And if they have conditions or outs, or if they can push it out or they can cancel it, maybe they have... And that will come out, I guess, in the public filings.

But putting all that aside...

the market was not happy about this Microsoft, Nvidia, Oracle, Broadcom, core weave, who all are the partners we're talking about, who are close to and when you see these charts of all the deals Sam has done, and Sam's a great dealmaker, obviously, they were all down six to 20%.

So this has, in fact, been a significant correction

in terms of the AI boom.

So before we get into their CFOs comments, Chamath, I'd love to hear your just general response.

Yeah, and this got exacerbated, Sachs, because on Wednesday, OpenAI decided to be in the news again when their CFO, Sarah Fryer, told the Wall Street Journal she hopes the U.S.

government, that's you, Sachs, will backstop the financing of its $1.4 trillion in data centers.

Here's a direct quote, the backstop, the guarantee that allows the financing to happen.

And she said that the federal guarantees would, quote, really drop the cost of finance.

Of course it would.

And this would allow OpenAI to borrow more money at lower rates from a much larger pool of lenders.

That went viral.

And everybody said, oh, my God.

It started feeding, I think, the narrative that maybe OpenAI is insolvent, in fact, and there's no way for them to pay their bills, which obviously is a little bit ridiculous.