The systemic risk is the graph. No single filing composes the graph, so no category system renders the risk. Each connection below is locally honest and globally blind.
Read by disclosure source
Each filing shows only its own slice. Choose one and watch the rest of the graph go dark.
Relationship ledger
All 30 relationships. Tap a name to isolate one company.
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$300B, 5-year cloud contract
definitive / verified
OpenAI is roughly half of Oracle's $638B RPO per S&P. Most capacity unbuilt.
Select any box to open its dossier: what it owes, what it is owed, and which document each connection lives in.
How to read an edge
Verified
Verified with caveat
Attributed to reporting
Definitive or filed
Contingent or alleged
Letter of intent, estimate
Dissolved deal
Color is confidence, dash is the deal's reality, and line weight grows with the dollars. The rust box at the center is the company everything else rests on.
Show the work
Every edge traces to a numbered verdict in the citation ledger, and most link out to the primary document (a filing, ruling, ratings action, or press release). Open the ledger, or read the article the graph was fact-checked against.
Lawrence, J. (2026). One Load-Bearing Company: OpenAI counterparty concentration, as open data (v0.2.0). jakelawrence.xyz/research/one-load-bearing-company.
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