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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 1 points 9 hours ago

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.