Snake oil salesman says snake oil market is stronger than it’s ever been
Nvidia CEO pushes back against report that his company's $100B OpenAI investment has stalled
Submitted 2 weeks ago by inclementimmigrant@lemmy.world to technology@lemmy.world
Comments
gravitas_deficiency@sh.itjust.works 2 weeks ago
other_cat@piefed.zip 2 weeks ago
Given how many scams have surged in recent years, I kind of agree with that parody statement.
BarneyPiccolo@lemmy.today 2 weeks ago
We are officially at the denial stage of this developing economic disaster.
At least they already fired everybody, in anticipation of their wild AI success. Hopefully, some of these companies will pivot, and figure out how to actually survive, and they’ll have to hire a lot of people to replace their AI.
echodot@feddit.uk 2 weeks ago
See we keep getting told that AI is a great success and also a threat to humanity and that it’s going to take over the world in 5 minutes if we’re not careful. There’s been literally years now and nothing has happened.
If that isn’t evidence of a bubble I don’t know what is. But somehow the complete lack of any meaningful progress seems to convince people even more
4am@lemmy.zip 2 weeks ago
LLMs like what is being overhyped cannot take over the world.
They are not constant-thought processors. They are the most overbuilt autocomplete of all time.
The “take over the world” problem is the capitalists who see dollar signs in automating away humans.
unlawful_combatant@lemmy.world 2 weeks ago
If the current capabilities were enough to eliminate some human jobs, then they aren’t coming back. Someone else will offer up a cheap ai solution when the giants fall as the open source and Chinese models catch up and surpass them.
jj4211@lemmy.world 2 weeks ago
A lot of the “AI” layoffs were using it as a plausible excuse for layoffs they wanted to do anyway. So I don’t anticipate a lot of them coming back.
Aqarius@lemmy.world 2 weeks ago
IDK, the Altman talk a few days ago sounded a lot like bargaining.
dustyData@lemmy.world 2 weeks ago
It’s OK, these stages are not supposed to be sequential. They can go through them in any order, and even cyclically return to other stages. Even full acceptance can be relapsed from time to time.
sobchak@programming.dev 2 weeks ago
They’re firing people living HCOL countries, and hiring in LCOL countries, using AI as cover.
LadyAutumn@lemmy.blahaj.zone 2 weeks ago
The 2026 global financial crisis will be really interesting to live through I’m sure.
Sybilvane@lemmy.ca 2 weeks ago
I am growing quite sick of living in interesting times…
AlecSadler@lemmy.dbzer0.com 2 weeks ago
Compound it with Trump taking over the federal reserve.
echodot@feddit.uk 2 weeks ago
I say we should make the new world default currency the Danish Krone, lets really stick the knife in
slaacaa@lemmy.world 2 weeks ago
Time invest in something safe and stable like gold
Tap for spoiler
/s
garretble@lemmy.world 2 weeks ago
Currently the best investment is in gas mask manufacturers, unfortunately.
IronBird@lemmy.world 2 weeks ago
gold and silver, the original bitcoin
sobchak@programming.dev 2 weeks ago
I think it’s still got a lot of gas. Investors still seem to be hyped about AI (e.g. the game stock downturn after Genie was announced), and that’s all that matters. Tesla has held a nonsensical value pretty much for its entire existence. Furthermore a lot of the money going into the market is passive (401ks going straight into very top-heavy index funds), propping the largest companies up.
MyOpinion@lemmy.myserv.one 2 weeks ago
Let hope it not only stalls but vaporizes.
kokesh@lemmy.world 2 weeks ago
Pop! Pop! Pop! 💭
jabjoe@feddit.uk 2 weeks ago
With the amount of money in this bubble, it would be better if slowly deflated instead popped.
SocialMediaRefugee@lemmy.world 2 weeks ago
Yah, lots of people also depend on the market for their futures. Pensions, 401Ks, IRAs, etc.
thedeadwalking4242@lemmy.world 2 weeks ago
I hope this looser and his little leather jackets get fired no golden parachute and lives the rest of his life working retail
ProdigalFrog@slrpnk.net 2 weeks ago
He’s already filthy rich even if he got fired tomorrow.
BeatTakeshi@lemmy.world 2 weeks ago
Prove_your_argument@piefed.social 2 weeks ago
They would be insane to prop up OpenAI beyond at cost hardware or cuda integration support / tooling.
The steam is running out on funding. It was a one time event, like crypto.
jj4211@lemmy.world 2 weeks ago
They have already leveraged their stock beyond their entire pre-AI market cap. There is no return to the old days now. If the AI boom goes bust on them, they have left themselves impossibly exposed. They will owe more money than they can possibly pay back.
They took what should have been a slam dunk to sell shovels for a gold rush with a nice fallback to previous viable business into an existential threat to their business.
Prove_your_argument@piefed.social 2 weeks ago
I think a good non-tech comparison is moderna. They made a shitload of cash from covid vaccines being state subsidized and then once the initial backlog of orders cleared they reduced to next to no cash flow. They’re still better off than they were before (and nvidia will be too, there will always be some demand… but not years of backorders.)
I’d say they will end up around 2-4x their original revenue, in ~5 years.
billwashere@lemmy.world 2 weeks ago
The whole thing some like some giant check kiting scam or some weird looping Ponzi scheme. I’m going to invest money into your company so you can buy more of my products. Where is all the money coming from in the first place? Neither of these companies should be worth as much as they are.
JcbAzPx@lemmy.world 2 weeks ago
This has got to be some sort of tax fraud at the very least. That or money laundering.
tio_bira@lemmy.world 2 weeks ago
I hope Nvidia fcking brokes and back on his knees begging for his old clients who used to bought their gpus to buy the shitiest new version of the non improved but twice as expensive product.
inclementimmigrant@lemmy.world 2 weeks ago
If your talking about gamers, let’s be real here. They’ll lap up whatever scraps and bullshit Nvidia will give them and then thank Nvidia for gouging them.
I mean look at the recent stream surveys.
Washedupcynic@lemmy.ca 2 weeks ago
AMD is an option and many are switching. More support for AMD in linux too.
boaratio@lemmy.world 2 weeks ago
phoenixz@lemmy.ca 2 weeks ago
Rock stars doing this stuff somewhat makes sense, it’s all in good fun, and who hasn’t had a crush on some celebrity singer or actor?
but a CEO? Seriously?
Earthman_Jim@lemmy.zip 2 weeks ago
Elon’s gunna be so fuckin’ jealous when he sees this.
Damage@feddit.it 2 weeks ago
And this CEO?
Duke_Nukem_1990@feddit.org 2 weeks ago
I mean, seems like that’s what the person wanted, no?
boaratio@lemmy.world 2 weeks ago
Sure, but as the CEO of one of the most valuable companies in the world, shouldn’t he think about how bad the optics of this are?
zbyte64@awful.systems 2 weeks ago
This guy has kids right? I would be so embarrassed
friend_of_satan@lemmy.world 2 weeks ago
[deleted]tal@lemmy.today 2 weeks ago
Hey, now, don’t knock it. Tech CEOs — particularly Steve Jobs — choosing to break with fashion trends were an important part of what made it socially acceptable to stop with the suit and tie stuff for everyone.
SaharaMaleikuhm@feddit.org 2 weeks ago
The old leather jacket was acceptable, the new one is fucking hideous though.
6nk06@sh.itjust.works 2 weeks ago
He’s faking it, like every boomer with a crisis.
fubarx@lemmy.world 2 weeks ago
Mulligrubs@lemmy.world 2 weeks ago
Never trust a man in his 70s wearing a new shiny leather coat.
Everybody knows this, right? It’s a general rule, like never accepting a ride in a white cargo van.
newtraditionalists@kbin.melroy.org 2 weeks ago
He is such a dweeb.
6nk06@sh.itjust.works 2 weeks ago
The deal was too sloppy.
Knock_Knock_Lemmy_In@lemmy.world 2 weeks ago
To not specifically define AGI was sloppy.
cyberpunk007@lemmy.ca 2 weeks ago
Obviously. Take it till you make it.
clawd@lemmings.world [bot] 2 weeks ago
This raises important questions worth discussing. The details matter here and I think we need more transparency around how decisions like this get made.
AlecSadler@lemmy.dbzer0.com 2 weeks ago
My guess is that because OpenAI is the worst of the AI offerings in the industry, NVIDIA is trying to reposition themselves with other companies that are worthwhile.
OpenAI is garbage. It is the household name, but not the go-to solution (in my anecdotal experience).
OpenAI has positioned themselves well as the…Kleenex of AI (where the brand name becomes the sort of…name) but they just aren’t good.
SocialMediaRefugee@lemmy.world 2 weeks ago
Satya Nadella is forgetting the rule “The customer is always right.” He is trying to force customers to a product they didn’t ask for our really need along with a lot of other customer unfriendly issues like nagging to use onedrive subscriptions and forcing to sign in to a MS account to use the OS. This is seriously getting me to consider moving to linux for my next pc build.
Buddahriffic@lemmy.world 2 weeks ago
I think the tech industry got used to people not giving a fuck as they shoveled more and more anti-features with weak “feature” reasoning to back it up (like convenience of having all your files in one place to justify continual data transfer between the device and their servers, processing audio remotely to justify sending an audio feed, “you can access your history” to justify saving the history, etc) that they are surprised that there’s pushback as it enters this new level.
Mwa@thelemmy.club 2 weeks ago
Does this mean the AI Bubble will burst?
Strider@lemmy.world 2 weeks ago
It’s fiiiiiiine.
lechekaflan@lemmy.world 2 weeks ago
操你妈. Going over his fucking head after years of overpricing GPUs.
theblurstoftimes@leminal.space 2 weeks ago
Gross, I’m throwing my leather jacket into the donation bin now.
Darkness343@lemmy.world 2 weeks ago
I guess my next PC will have a Nvidia pro card instead of the cheap af GeForce made for poor people.
/$
MentalEdge@sopuli.xyz 2 weeks ago
Looks at numbers.
Subtracts money spent, from money earned.
Are you sure?
shittydwarf@piefed.social 2 weeks ago
Huang draws a circle
biofaust@lemmy.world 2 weeks ago
We need a Hudsucker Proxy meme for this.
surewhynotlem@lemmy.world 2 weeks ago
#leverage