"It's A Confidence Game": AI Financing Warning From Jim Chanos

Video Description

Today's episode is brought to you by Teucrium. Learn more at: https://bit.ly/4gfI0fe In this interview, Chanos breaks down why hosting GPUs is a commodity business with low returns and why the depreciation of AI chips (like Nvidia’s) creates a massive financial risk for companies like CoreWeave and Oracle. He also discusses the dangers of private credit, the accounting tricks at Live Nation, and why the "unprofitable" nature of today’s AI customers makes this cycle riskier than the Dotcom era. Recorded on December 11, 2025. Follow Teucrium on Twitter https://x.com/TeucriumETFs Follow Jim Chanos on Twitter https://x.com/RealJimChanos Follow Jack Farley on Twitter https://x.com/JackFarley96 Follow Monetary Matters on: Apple Podcast https://rb.gy/s5qfyh Spotify https://rb.gy/x56dx5 YouTube https://rb.gy/dpwxez Timestamps 00:00 Intro 00:40 Teucrium $TILL Pre-roll 01:23 Data Center = Crummy Business 10:05 Oracle Could Have "Financial Problems" If AI Monetization Is Pushed Out 16:13 Coreweave and "Neo-Clouds" Have No Moat 18:11 Worrisome Rise of Off-Balance Sheet Deals To Finance Data Centers 22:00 GPU Depreciation and Inflated Earnings 28:01 IREN and other former Bitcoin Miners Pivoting to AI 35:44 Teucrium $TILL Mid-roll 37:28 "Way Worse Than 1999" In That Companies Now Spending on AI Are Unprofitable 41:48 OpenAI = King of Losing Money? 47:32 Nvidia 49:07 "Private Credit Reminds Me of Michael Milken" 56:29 Private Equity 1:02:50 Teucrium $TILL End-roll #shortselling #JimChanos #markets #trading #economy #ai #coreweave #nvidia #oracle #datacenter #gpu