Seth Figerman

I think where things currently stand is the company has repeated up and down that there's no discussions or plans for any kind of federal backstop.

Instead, they're hinting at, well, maybe there's a role for government to invest in its own AI infrastructure that might somehow reduce some of the capital burdens here or other indirect ways in which government could help the wider market.

But suffice it to say, the message that she intended to deliver seems to have been completely lost.

They've been on the defense about this a little bit in recent days, including on a recent podcast where Altman seemed taken off guard to even be asked that question.

What he's trying to stress here is that our revenue is growing much faster than anyone has expected, you know, on pace for 20 billion and have an annualized run rate and that we expect that these commitments over a seven or eight year time period are more than achievable.

based on that revenue growth.

That said, I think the overall market is looking at AI spending generally.

Meta shares had their worst four-day route since ChatGPT launched three years ago.

Chip stocks are seeing a slump right now on valuation concerns.

Michael Burry is getting out there, the one who predicted the housing bubble, and basically pointing out to our graphic on circular investments that center around OpenAI.

Across the industry and the markets, there's just really heightened concern about how achievable and sustainable this spending is.

You certainly ask interesting questions.