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The New Wintel: How NVIDIA and OpenAI Mirror—and Magnify—Tech’s Most Dangerous Monopoly Patterns

When NVIDIA reported third-quarter revenue of $57 billion, up 62 percent, Wall Street breathed a collective sigh of relief. The AI bubble, it seemed, had been granted another reprieve. But beneath the headline-grabbing numbers lies a financial architecture that should trouble anyone who remembers the tech industry's previous monopolies—and the catastrophic collapses that eventually broke...

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