Fortune‘s Jeremy Kahn reported in late September on significant concerns about “circular” financing, or Nvidia’s cash essentially being recycled throughout the AI industry. Shalett sees this as a major concern and a major sign that the business cycle is headed toward some kind of endgame. “The guy at the epicenter, Nvidia, is basically starting to do what all ultimate bad actors do in the final inning, which is extending financing, they’re buying their investors.”

She seems to really like baseball analogies. Also she’s the chief investment officer at Morgan Stanley, not an IT person and this is an article in Fortune, not HackerNews. Those types (investment bankers) love ball games because it’s a great place to schmooze.