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The Bubble Got a Credit Rating

The bill arrived in October, in the name on the key.

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Hi, AI Enthusiasts!

Welcome back to our Friday Deep Dive.

One stolen key made 1.7 million calls to Amazon's AI models in thirteen hours. By the end of the same month, Alphabet had lost $510 billion of market value in a single day. Both were about the same layer: the companies in the middle that hold other people's keys and borrow other people's money to sell AI compute.

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