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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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[–] Mr_WorldlyWiseman@lemmy.blahaj.zone 2 points 9 hours ago* (last edited 9 hours ago)

The shovel manufacturers will probably be fine, just reduced margins, but the shovel warehouses are so fucked holding nearly a trillion dollars of worthless shovels

In the words of Pat Gelsinger, we're about to see a lot of digestion.