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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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[–] Ascrod@midwest.social 7 points 16 hours ago

Sure, these companies have earnings, but then they go burn all of it plus more on training and inference and data centers and whatever the fuck else. It's not profitable and it never will be. And yet they're willing to bankrupt the country on this egregore that Sam Altman and his ilk have created.