AI Fund Flows

Circular financing loops in AI

Closed circuits found in the deals: one company pays a second, which pays a third… and the money returns to the first. A loop's strength is its smallest step: the amount that can actually go all the way round.

$30B$300B$40BNvidiaOpenAIOracle

Nvidia → OpenAI → Oracle → Nvidia

loop strength
$30B
sum of steps
$370B
Nvidia → OpenAI · Investment$30B
OpenAI → Oracle · Cloud & services$300B
Oracle → Nvidia · Chips & hardware$40B
▶ Watch it on the map
$33B$30B$13B$138BAmazonAnthropicMicrosoftOpenAI

Amazon → Anthropic → Microsoft → OpenAI → Amazon

loop strength
$13B
sum of steps
$214B
Amazon → Anthropic · Investment$33B
Anthropic → Microsoft · Cloud & services$30B
Microsoft → OpenAI · Investment$13B
OpenAI → Amazon · Cloud & services$138B
▶ Watch it on the map
$50B$300B$40B$10B$100BAmazonOpenAIOracleNvidiaAnthropic

Amazon → OpenAI → Oracle → Nvidia → Anthropic → Amazon

loop strength
$10B
sum of steps
$500B
Amazon → OpenAI · Investment$50B
OpenAI → Oracle · Cloud & services$300B
Oracle → Nvidia · Chips & hardware$40B
Nvidia → Anthropic · Investment$10B
Anthropic → Amazon · Cloud & services$100B
▶ Watch it on the map
$30B$13B$300B$40B$10BAnthropicMicrosoftOpenAIOracleNvidia

Anthropic → Microsoft → OpenAI → Oracle → Nvidia → Anthropic

loop strength
$10B
sum of steps
$393B
Anthropic → Microsoft · Cloud & services$30B
Microsoft → OpenAI · Investment$13B
OpenAI → Oracle · Cloud & services$300B
Oracle → Nvidia · Chips & hardware$40B
Nvidia → Anthropic · Investment$10B
▶ Watch it on the map
$50B$250B$5B$100BAmazonOpenAIMicrosoftAnthropic

Amazon → OpenAI → Microsoft → Anthropic → Amazon

loop strength
$5B
sum of steps
$405B
Amazon → OpenAI · Investment$50B
OpenAI → Microsoft · Cloud & services$250B
Microsoft → Anthropic · Investment$5B
Anthropic → Amazon · Cloud & services$100B
▶ Watch it on the map
$20B$40B$3BMetaOracleNvidia

Meta → Oracle → Nvidia → Meta

loop strength
$3B
sum of steps
$63B
Meta → Oracle · Cloud & services$20B
Oracle → Nvidia · Chips & hardware$40B
Nvidia → Meta · Investment$3B
▶ Watch it on the map