Me too. I think there’s something messed up in the financial system where OpenAI is a loop of investment opportunities, but AlphaFold is just valuable in its own right. OpenAI needs $40bn per year to survive, which is spends with MS on compute and promises to spend more in the future.

MS takes that promise of future revenue and spends $80bn on data centres in 2025, including on nvidia GPUs. nvidia becomes a $4tn company on the promise of future GPU purchases. That’s taken as evidence of the future of AI, which justifies pumping >$40bn a year into OpenAI, and round we go again