I'm not outraged at all, I just think this sort of bizarre financial engineering is not a good sign. If the ROI was so obvious, why not, for example, simply issue bonds and buy AMD stock on the open market?

It bears repeating my original question: if the risks are so minor, why is OpenAI simply not issuing bonds and buying AMD stock with the proceeds?

> Do you recall what “people familiar with finance” did with CDOs and mortgage-backed securities during the financial crisis? That didn’t work out so well either, despite all parties being aware of the risks.

There was straight up fraud involved in the underwriting for the mortgages where verification (or rather underwriting itself) was not being done.

This deal is a transparent bet on an outcome with no deceived party.

> and no one has access to more money due to the contract signed between the two parties

If a third party decides to pay a higher price for a publicly listed share because of the news of this contract, that is not printing money. The buyer of the shares loses money, the seller gains it, for a net change of zero in money supply.