Sona Asset Management Maps $3.6 Trillion Web of AI Financing Ties

A new analysis by Sona Asset Management has mapped a dense AI financing network spanning 176 deals worth $3.6 trillion across 202 entities, highlighting how capital, cloud commitments and chip demand increasingly loop through the same small group of companies. The work puts OpenAI, Anthropic, Microsoft, Amazon and NVIDIA near the center of a system whose biggest risk may be interdependence, rather than any single deal.