> for these companies

They’re absolutely going to get bailed out and socialize the losses somehow. They might just get a huge government contract instead of an explicit bailout, but they’ll weasel out of this one way or another and these huge circular deals are to ensure that.

>They’re absolutely going to get bailed out and socialize the losses somehow.

I've had that uneasy feeling for a while now. Just look at Jensen and Nvidia -- they're trying to get their hooks into every major critical sector as they're able to (Nokia last month, Synopsys just recently). When chickens come home to roost, my guess is that they'll pull out the "we're too big to fail, so bailout pls" card.

Crazy times. If only we had regulators with more spine.

This would trigger something that people in power would rather not trigger.

Absolutely. And they will figure out how to bankrupt any utilities and local governments they can in the process by offloading as much of their costs overhead for power generation and shopping for tax rebates.