Travis Hoium

The other thing that I wanted to bring into this was,

The companies funding them are some of the biggest companies in the world, and they're getting more and more stretched.

I'm just looking at Amazon's free cash flow and balance sheet.

Their free cash flow over the past 12 months, less than $8 billion.

That will be negative in 2026.

And they have $66 billion worth of debt.

You're getting a little bit different story.

They're like Microsoft and Google.

They have a little bit more cash flow.

They don't have the same investments that they need to make in some of their non-data center businesses.

But SoftBank is taking out debt to fund these kinds of rounds.

It seems like the private markets are stretching to a point that we've probably never seen before

Lou, is that at least a reasonable way to think about it?

Because I know we talked on Friday about how would the market react if a company like Amazon said, you know what, we're going to spend less next year.

Are we at the point where the market would react positively?

That would be probably trouble for OpenAI.

Yeah, it'll be fascinating to watch, because like you said, Anthropic is the bell of the ball right now.

All right, when we come back, we're going to get to the other hot stock of the day.

That is Nike, which is plunging in trading.

You're listening to Motley Fool Money.