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CNBC’s Jim Cramer on Wednesday expressed trepidation about circular transactions between tech companies as Wall Street weighs the value of artificial intelligence heavy hitter OpenAI.
“These days, we’re constantly hearing about what I’d call these ‘Lazy Susan’ deals, except they’re being celebrated as good news for both parties,” he said.
To Cramer, a “Lazy Susan” deal occurs when one company gives another money, and in exchange, the recipient invests some of that money back into the other company. He referenced recent news that OpenAI is currently in talks with Amazon
