It's more like this:

1. OpenAI need cash for compute to make new models.
2. Only can get 30B from softbank... not enough.
3. Call Jeffrey tell him you wanna buy AWS credz with stonks. Jeffrey says fine here's 50B now gimme stonks and then you buy 50B worth of AWS credz from me.
4. Call Jensen tell him you wanna buy GPUs with stonks. Jensen says fine, here's 30B now gimme stonks and then you buy 30B worth of GPUs from me.

This will only end bad if OpenAI keeps on not winning. Let's hope for Sam that he doesn't get disrupted by Alibaba or Tencent... or well... Enemy Of The State #1: Anthropic.