$110B OpenAI Check: New Era or AI Bubble Bursting?

OpenAI just secured a staggering $110B funding round — including $30B from SoftBank, $30B from Nvidia, and $50B from Amazon. This signals unprecedented U.S. conviction in AI infrastructure, model development, and ecosystem dominance. But it also raises the obvious question: when capital scales this aggressively, does it accelerate innovation — or inflate expectations beyond monetization reality? If OpenAI eventually goes public, will it mark the birth of a new AI era? Or the peak of the most capital-intensive cycle in tech history?