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The Money That Never Leaves the Room: How AI’s Circular Financing Revived a Warning Richard Cantillon Issued Three Hundred Years Ago

In September 2025, the chip company Nvidia announced that it would put as much as $100 billion into OpenAI. The pledge carried a condition that few headlines bothered to translate: OpenAI would spend a large share of the money leasing and buying Nvidia’s own processors to fill the data centers the investment was meant to build. Nvidia pays OpenAI. OpenAI pays Nvidia. The figure on the press release reads as growth. The mechanism underneath reads as a man moving a coin from his right pocket to his left and announcing that the household has grown richer.

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10 Million is Beneath 50 Million

A woman I knew back in Nebraska came from rich parents. No one was good enough to date her. One parent was a lawyer. The other raised show horses. She was “given” $10 million over the course of her young life. Twenty years later, as woman on the prowl in New York City, she met a man and fell for him. However, his family did not approve of her because “she is only worth $10 million” while their son was worth $50 million in inherited money and she was “too far beneath him” to be considered marriage material, let alone the mother of his children.