Stargate is a great name but the $500b is a ridiculous number and no one should take it seriously unless SoftBank is going to sell all of their BABA and ARM.SoftBank has $38b in cash, $142b in debt and generates $3ish billion in FCF per BBG. They own $143b in ARM and $18b in

发布时间: 2025-01-23 02:24:04

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Stargate is a great name but the $500b is a ridiculous number and no one should take it seriously unless SoftBank is going to sell all of their BABA and ARM.
SoftBank has $38b in cash, $142b in debt and generates $3ish billion in FCF per BBG. They own $143b in ARM and $18b in
btc
( twitter.com )

Stargate is a great name but the $500b is a ridiculous number and no one should take it seriously unless SoftBank is going to sell all of their BABA and ARM.

SoftBank has $38b in cash, $142b in debt and generates $3ish billion in FCF per BBG. They own $143b in ARM and $18b in BABA. If they start selling ARM, their stake will be worth much less very quickly.

Oracle has $11b in cash, $88b in debt and generates $10b in FCF.

OpenAI is burning cash.

MGX did not commit to a number and is a $100b fund. Maybe 10% of the fund goes into this best case.

Nvidia will limit how much they invest in any one model company (they don’t need a monopsony). Maybe $5b.

Barring the aforementioned SoftBank ARM sale, might be able to put together $50b in equity funding over several years. Can obviously finance the GPUs and put debt on the JV.

Nowhere close to $500b. Everyone should just start issuing press releases for $1 trillion AI projects.

BTW love it that the ticker MGX which is a biotech company is up 33% on this.

If you a professional investor or analyst and you took $500b at face value - or even worse wrote a note about this - you should resign in disgrace.