The AI boom is a loop-de-loop economy. Here's how

“We are increasingly going to be customers of each other,” Microsoft CEO Satya Nadella said in November, laying out his company’s latest round of AI alliances . Microsoft and Nvidia bankroll Anthropic, which runs on Microsoft’s cloud and chews through Nvidia GPUs; AMD hands OpenAI six gigawatts of future supply and, potentially, an up-to-10% stake in the company; Saudi-backed Humain wires in “exclusive technology” deals with AMD and Cisco, while Nvidia and Elon Musk’s xAI are lining up a separate 500-megawa ...