Amazon was stuffing GPUs into warehouses. Amazon. Jensen maxed out China, maxed out hyoerscalers and neoclouds, and then sold GPUs to startups Nvidia funded. And Nvidia was loaning (imaginary) money to everyone to make the sales happen.

GPU sales were used to justify datacentre buildout (see the demand) which would never have happened - but the GPUs (in any economy a depreciating asset as long as new versions are under development) were used to borrow money to buy the land and build the datacentres. Real estate, manufacturing, construction, engineering, legal, finance. It’s a huge part of the economy tied up in this. A small glimmer of hope - I think Amazon, Google, and Microsoft have been using cash flow until very recently to pay for their mess. But they have all (I believe) issued bonds in the last year.

Nothing will happen, but people involved should rot in prison for the rest of their lives.

https://wccftech.com/jensen-huang-financed-ai-startups-absorb-excess-silicon/

don't claim to understand accounting. on your own; Mark-to-market accounting