Grady Booch amplifies bubble warning: the $500B AI infra mega-deal is mostly MOUs
Grady_Booch · x · 2026-09-20
Grady Booch shares Frédéric Lordon's essay in New Left Review's Sidecar, framing AI as entering a bubble "latency period" — the sustaining belief holds, but signs of unsustainability are everywhere.
Key points:
- In early August, Nvidia, Goldman Sachs, Blackstone, BlackRock, Apollo and KKR gathered on CNBC to announce a $500B AI infrastructure financing mega-deal — notably without OpenAI, Anthropic, Google, Microsoft or Oracle.
- Lordon argues the deal is a set of memorandums of understanding — declarations of intent, not an investment plan — calling it a PR move or even a "psy-op".
- With OpenAI's $122B round now barely registering, morale is flagging and doubts about the trillions flying around are growing, which is precisely why the announcement was staged live on TV.
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