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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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[–] Tollana1234567@lemmy.today 1 points 12 hours ago (1 children)

more like, they are hoping IRON pyrite(fools gold) would be innovating as good as normal good or better.

[–] chonglibloodsport@lemmy.world 1 points 7 hours ago

Yes. It will all fall apart when all the regular businesses (not AI companies) realize that AI is just wasting their money and creating a big mess, not actually increasing their profits. These are supposed to be the big customers for AI and they’re really not benefiting from it at all.