Now I’m no big city spreadsheet man but I bet you “company that owes us billions went belly up” looks better on the books than “company we bought that owes us billions went belly up.”
Like if I offered you $8 billion in soft serve ice cream so long as you keep bringing birthday parties to my bowling alley. The moment the music stops and the parents want their children back, it’s not like I’m out $8 billion.
Cloud provider gives credit to LLM provider in exchange for a part of the company.
These are really normal business deals.