Nvidia just put 100 billion into OpenAI and billions more into other AI startups, and those same companies are turning around and spending it all buying Nvidia chips—which is why Jim Chanos and Michael Burry, the guys who called Enron and the housing crash, are now shorting Nvidia and saying it rhymes with Lucent Technologies right before the dot-com collapse. The company sent out a defensive seven-page memo insisting this isn't vendor financing, but there's 120 billion in off-balance sheet AI datacenter debt floating around, and nobody's actually proven that end-user demand will justify this infrastructure by 2027 when the bills come due. It's either the smartest bet on the AI revolution or we're building trillion-dollar cathedrals for a religion that doesn't exist yet, and we won't know which until the music stops.