circular finance, with numbers, a worked example.
I want to use $GOOG Anthropic and $SPCX deal to show how the circular finance deals hiding losses and costs is falling apart. How every deal meant to make it appear like revenues are increasing is becoming laughable and unrealistic. See the math. Let’s use $GOOGL deal showing they could offer $CRWV a 100% juicer for exclusive access to 110,000 Blackwell GPUs AND STILL save $1 billion.
$CRWV GB200 costs $10.50 per hour, or ($5.25 per Blackwell GPU chip in GB200)
365 days × 24 hours = 8,760 hours
Cost per Blackwell chip per year: $5.25/hour × 8,760 hours = $45,990
Total for 110,000 chips: $45,990 × 110,000 = $5,058,900,000 (or ~$5.06 billion)
Google and Anthropic are now paying more per year to rent GPU capacity from $SPCX than the cost to build a data center.
These deals are being set up by hyperscalers to rob investors and pump trillions of dollars worth of ultimately worthless securities into pensions that they know the government will provide a bailout on now.
We all know the earnings are inflated and it’s being supported by hyperscalers having unlimited access to cash by pensions. It needs to stop.
This is an updated post, I originally calculated based on GB200 cluster vs single Blackwell GPU chip.
