At this point it is clear that the company has been paying everything with convertible. Basically, they've been promising early investers and AI infra providers "once we go IPO, all of us will be rich without me paying you." From their S-1 I don't see how big their promised bag is late investers are supposed to hold after IPO for early investers. Based on their "80B marked loss" from June, I'd imagine somewhere between $100~200B. Any thoughts on this? -Question-156
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