alt Hacker NewsNobody who has ever run a business or knows about how a business runs would think that any business "sits on piles of assets like dragons." Very little cash sits idle, usually for anticipated operational expenditures with a reserve for unanticipated expenditures; the rest is invested, loaned, spent on building the business, or returned to investors. If OpenAI is holding $25 billion in cash, it's because they anticipate spending that much in the near future, not because they're sleeping atop it in a mountain cave.
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In this case, companies actually do have large inventories of GPUs they bought before they had datacenters to install them in.
Next you will be telling me the rich don’t have a vault of gold coins you can swim in like Scrooge McDuck!
Assets, not just cash. Though sometimes, they literally have stuff they can't use:
> Microsoft CEO says the company doesn't have enough electricity to install all the AI GPUs in its inventory
https://finance.yahoo.com/news/microsoft-ceo-says-company-do...
In this particular case and with these particular companies... yes, they were sitting in a hoard of cash like dragons. They literally didn't know what to do with it, so they gambled on The Next Big Thing™....
Either way, it's more efficient to give whatever money to bail out individuals/consumers than to bail out rent seeking organizations
Right. Corporations own people, not cash.
He didn't say cash, he said assets.
Also funny enough - AAPL is siting on 62B$ cash according to google search.