On November 20, 2025, trading algorithms identified what may become the largest accounting fraud in technology history—not in months or years, but in 18 hours.
That built on earlier reporting where they described the deals as circular, as the deals were being announced. Each of these reports notes the financial analysts at different investment firms sounding the alarm.
From there, a robust discussion happened all over the financial press about whether these circular deals were truly unstable. By the time Gamers Nexus ran that video the financial press was already kinda getting sick of the story.
Whatever the hell these trading algorithms were doing on November 20, they definitely weren’t ahead of the curve on investor knowledge and belief.
Financial analysts were sounding the alarm in October. On October 7, Bloomberg ran an influential article about the circular deals:
https://www.bloomberg.com/news/features/2025-10-07/openai-s-nvidia-amd-deals-boost-1-trillion-ai-boom-with-circular-deals
That built on earlier reporting where they described the deals as circular, as the deals were being announced. Each of these reports notes the financial analysts at different investment firms sounding the alarm.
From there, a robust discussion happened all over the financial press about whether these circular deals were truly unstable. By the time Gamers Nexus ran that video the financial press was already kinda getting sick of the story.
Whatever the hell these trading algorithms were doing on November 20, they definitely weren’t ahead of the curve on investor knowledge and belief.
Yup. But you’d need to keep your head out of the AI bubble’s arse to notice that. :D