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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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[–] Voroxpete@sh.itjust.works 1 points 8 hours ago

Not sure what you mean by "people in those industries". In investment parlance, "retail" isn't an industry, its individual investors. Y'know, people on the Robin Hood app YOLOing their life savings into Nvidia. So which industries are you referring to?