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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 1 day 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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[–] 52fighters@lemmy.sdf.org 2 points 1 day ago

Understanding the economics of it is beyond what I can reasonably know at this time but I did read that Ryan McBeth argued that the increasingly likely war involving China in 2027 or 2028 will become instant demand for AI services under military use.