The Syndicate Room EP39 — OpenAI $1.2T Pre-IPO, SpaceX $13B AI Compute, FT $300B Off-Balance-Sheet, Huawei Supply Crunch
OpenAI weighing a $1.2T pre-IPO round, SpaceX signs $1.1B/month AI computing deal, FT exposes $300B in off-balance-sheet AI infrastructure debt, Huawei says chip demand outstrips supply. The AI capital cycle is in its infrastructure buildout phase. Position before you predict.
The skinny
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