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What does circular lending mean in the AI sphere?

WBUR | By Here & Now Newsroom
Published February 25, 2026 at 11:58 AM EST
The OpenAI logo appears on a mobile phone in front of a computer screen with random binary data, March 9, 2023, in Boston. (Michael Dwyer/AP)
Michael Dwyer/AP
The OpenAI logo appears on a mobile phone in front of a computer screen with random binary data, March 9, 2023, in Boston. (Michael Dwyer/AP)

There’s a lot of circular lending happening among artificial intelligence companies. For example, the high-tech chip-maker Nvidia is investing in the company OpenAI, and OpenAI is then buying chips from Nvidia.

Here & Now‘s Scott Tong talks with Wall Street Journal reporter Jonathan Weil about what these kinds of deals mean for the companies and what the risks are.

This article was originally published on WBUR.org.

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Here & Now Newsroom