Junk bond rating close at hand for Oracle. To paper this over, the credit agencies may be a day late and dollar short on the downgrade. If it came would force every single passive index fund to puke the paper all at once (see yesterday’s post on passive index funds).
Junk bond market in general has already melted down. Turn out the lights.
Regardless market is starting to say Project Jupiter won’t happen stranding $1 trillion Openai deliverables. There will be no Openai IPO at least at levels that they need.
Bahahahaha Anthropic is a total dog of a company. Spent $12.6bn to make $4.6bn in revenue in 2025, $7.33bn of which was compute costs. Operating loss of $8bn. Losses getting worse. Weird that Reuters doesn’t have the 2026 numbers from the prospectushttps://t.co/eWnHlfpCgF https://t.co/xZBY54VpoZ pic.twitter.com/kyLTeYf3uS
— Ed Zitron (@edzitron) September 29, 2026
Ponzi finance: Leaked Anthropic IPO prospectus shows $42BN Net Loss, $518BN in unfunded spending commitments. IPO is DOA.
Finally the financial media is reporting aspects of the reality. The IRR doesn’t support trillions in borrowing and inflated equity issuance.
The global AI industry needs to earn $6 trillion in annual revenue by 2031 to justify the capital being deployed to build data centers around the world, according to a Bain report https://t.co/svEcTOipBi
— Bloomberg (@business) September 29, 2026
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