OpenAI is increasingly locked in a complex web of financing agreements with chip makers. Justin Sullivan/Getty Images New York —

The rat’s nest of AI partnerships just got a bit more tangled. And for those who suspect the whole thing is a bubble, well, the latest entanglement is another thing to fret about.

ICYMI: OpenAI just struck a deal with AMD , a chip designer that directly competes with Nvidia, which itself announced a $100 billion investment in OpenAI less than a week ago . Nvidia, the world’s biggest company by market value , also competes with Oracle, which last month became the hot AI stock when it also reportedly struck a $300 billion deal with, you guessed it, OpenAI.

OpenAI, reportedly the biggest private company on the planet, with a half-trillion-doll

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