My edition of the Hitch Hiker’s Guide to the Galaxy states “Nvidia is also the first company to lose $5 trillion after the great AI bubble burst.”
Bubbles, bubbles, bubbabubbabubbleeeesss
Is it unusual for a CEO to last as long as Huang has with nvidia? (1993 if I’m reading right).
This is going to be an amazing sight to behold when the bubble pops. We are all going to feel it.
powered by the
AI frenzymassive amounts of money they pump into companies buying their chips to artificially inflate demandThere, I fixed that for you, NBC.
Yeah this bubble is going to hurt when it cracks.
For me it could be worth five hundred quadrillion already, these numbers have entered the realm of fantasy.
That’s still not how it works. Company stocks are worth exactly what people are willing to pay for them.
Even so, a market cap in the trillions is still an abstract concept. Nvidia can’t use its ‘worth’ to buy Apple for example.
Well of course not - that’s the value of the company. You can’t buy anything with it. The same goes for wealthy individuals: just because someone’s net worth is in the billions doesn’t mean they have that kind of cash on hand.
Rich people and their made-up money.
Asked about the exploding values of AI companies on Tuesday and if the sector may be in a so-called bubble, Huang told NBC News that “these companies are generating real revenues” and the products they are selling are “profitable.”
Doubts about thst statement aside, there’s no mention of ‘benefit to society’, you’ll note.
The guy collecting empties in the highway culvert is also generating revenue, but that doesn’t mean his enterprise is worth 5 billion dollars.
Edit: I meant “trillion” but I’m so unused to actually typing that number out because it’s so absurdly large
The guy collecting empties on the highway is arguably generating more of a benefit to society, though.
All that inflated value from circular trading with Open AI, Oracle, etc sure is looking good on paper for them, and will definitely allow Jensen another few dozen leather jackets.
Can’t wait for this shit to burst, and it will be a very big burst when it happens
There’s always money in the leather jacket stand.
Nvidia is worth more than the pharmaceutical industry. Tesla is worth more than all other car manufacturers combined.
Yep, and Tesla makes only a fraction of the cars that even a single one of those other car companies make…
That is called a bubble
Nvidia is a bubble the size of a fucking gas giant. Once that pops, and it will, soon, expect the world economy to pop with it
It works exactly as designed and therefore must be dismantled and rebuilt from scratch.
No, the economy doesn’t work as it’s intended, even assuming the cynical take, bubbles, inflation, recession, excessive debt, none of those are good for anyone not even the Rich, there are people who exploit it but it is not good for them either it’s more making the best out of a bad situation.
“worth”
5 trillion dollars to pump ai slop making cards and heat up the globe with insane energy demands…
I remember like a decade ago when Nvidia made the most power efficient cards. It was a glorious time. Those generations were so good there was barely even any power differential between desktop and laptop, even phones and consoles were riding high, you could get cards that were affordable, quiet, powerful, pick any three. Maxwell-2 in particular and other similar generation cards around that early-to-mid 2010s era felt like really elegant and finely-tailored designs while AMD was desperately throwing more power at their problems and creating blast furnaces that doubled as graphics processors just so they could say on paper that they were competitive.
Then it all changed. Bitcoin exploded, AMD’s cards were so aggressively mediocre at mining that they weren’t even in the competition, so Nvidia got handed the whole market on a silver platter. And then they realized if they could get the hash rate high enough they could charge whatever they wanted and power consumption just ceased to matter since the cards were literally printing money. And that was the end of that. They found it was so profitable to chase those industrial-scale customers that they’ve never really looked back and now they’re riding the AI bubble into the stratosphere. It’s going to be a long fucking fall, that’s all I can say. And most gamers will be pointing and laughing all the way. Fuck Nvidia. I don’t even care who has faster performance or better value anymore, I’m using Linux and supporting AMD on principle.
Gotta eliminate the jobs somehow! They’ll declare AGI despite the fact that LLMs are nearly useless turds that can’t stop making up shit and lying
Because everyone knows the bigger the bubble, the better the economy. Right?.. Right!?!
