HomeBusinessShould we worry about AI's circular deals? BusinessEconomicsEditor Picks Should we worry about AI’s circular deals? By Noah Smith October 22, 2025 0 31 ​AI companies are borrowing more money to invest more in AI. ​ Read More Subscribe@Substack TagsAIfinance Share FacebookTwitterReddItEmail Previous articleNo Kings, East Wing, Epstein, and Second-Grade Memes | ExplainerNext articleGrid reliability in Texas: Big loads, big opportunity at GCPA Noah SmithNoah Smith is a former Bloomberg Opinion columnist. He was an assistant professor of finance at Stony Brook University, and he blogs at Noahpinion. RELATED ARTICLES Economics The Vibecession Deepens November 20, 2025 Economics Reminder: Crypto Is a Trump Trade November 19, 2025 Economics Housing is at the heart of America’s economic problems November 18, 2025 Most Popular The Vibecession Deepens November 20, 2025 Reminder: Crypto Is a Trump Trade November 19, 2025 The MAGA Internet Meltdown Down Over Epstein November 19, 2025 You have 100 ‘energy slaves’ November 18, 2025 Load more