[1] https://www.l3harris.com/sites/default/files/2021-08/MN_SBSS...
https://www.cnbc.com/2026/08/17/l3harris-ceo-chris-kubasik-l...
And that's why you never deploy to prod on a Friday.
A bunch of headlines I've seen today indicate that the reason for the circular investments is because NVIDIA, and by extension, TSMC, has gotten in over their heads. NVIDIA ordered massive amounts of wafers from TSMC, and when demand fell due to competition, Jensen tried to backstop companies like OpenAI in order to avoid having to pay for a product with no demand. The interim CEO actually pushed back against him, and managed to negotiate a smaller deal with Open AI, and there is a bunch of stuff surrounding this that media is still uncovering. TSMC has also joined this circular investment stuff. Sorry I don't have links. I saw a few articles on reddit here and elsewhere. Much of the above came from Jensen Huang himself shortly before he resigned. NVIDIA has reserved most of TSMC's advanced nodes, to say nothing of their obligations with Micron, Hynix, etc.
My thoughts after reading various reports? The affair was a cover, not for the smuggling of NVIDIA stuff (although that is an issue), but rather, NVIDIA has been making dangerous bets, the now-CEO called them out. He shut that down, so they went to the board with evidence. I could be wrong, but I bet I'm not. I also bet the smuggling thing was intentional because NVIDIA is completely underwater with wafer allocations, order for RAM, etc.
The reason I bring that stuff up is because it absolutely looks like this bubble is about to pop. This is the part where Dems take over and have to clean up a shit show.
The really fucked up thing? Elon Musk may come out ahead, thanks to him weaseling his way into american retirement plans.
poor choice of words