“The dangers Trump and Putin face are so great they will go to any lengths to avoid them. They have no other choice.”

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There's a lot of circular financing in there, no question. I don't think that's even disputed. Rather, the main counter is it doesn't matter because the benefits of the future tech will be so great, with such a big advantage for whoever gets there first.

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Even worse: there's something on the order of $1 trillion contracted for future AI chip deliveries but already treated as income, and that income is used to invest in companies which then use that investment to fund AI chip purchases.

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💡 From debate to concrete solutions – Day 2 of the OSCE RFoM Central Asia Media Conference. 📅 10 October 📍 Bishkek 🇰🇬 See the full programme 👇 rfom.osce.org/event/667392 #CAMC2026

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