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United States | News & Politics@lemmy.mlEnglish · 10 days ago

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’ 🤣

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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’ 🤣

☆ Yσɠƚԋσʂ ☆@lemmy.mlM to

United States | News & Politics@lemmy.mlEnglish · 10 days ago

5

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

However, the Fed chair noted that the growth is unevenly distributed and concentrated among only a few companies.

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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10 days ago
It’s almost certain some new use for chips will show up. The question is how they’re gonna make them without rare earths.