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Illustration: Sarah Grillo/Axios
Circular funding is all the rage among the largest tech companies powering the S&P 500. The question is whether that could be a problem, or just a new name for an old and proven way of doing business.
The big picture: Nvidia, Microsoft, Amazon and Meta are among the Big Tech firms that have poured billions of dollars into AI startups. The startups in turn spend those funds on chips and cloud services from their investors.
