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Powell says that, unlike the dotcom boom, AI spending isn’t a bubble: ‘I won’t go into particular names, but they actually have earnings’ (fortune.com)

submitted 6 days ago by cm0002@lemmy.zip to c/usa@midwest.social

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The entire US economy right now is 7 companies sending a trillion fake dollars back and forth to each other, but it's totally not a bubble according to grampa Powell.

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[–] Ascrod@midwest.social 2 points 5 days ago (1 children)

Yup, the only real winner here is Nvidia, for selling the shovels for the gold rush. All the "AI" companies are just spending money to lose money. But I guarantee that - somehow - all of us commonfolk will be left holding the bag, not Clammy Sammy Altman.

[–] KelvarCherry@lemmy.blahaj.zone 1 points 4 days ago

It'll probably be like W. Bush - a big bailout right as the Republican leaders are leaving their term. :P