I used to think that some shock would make investors realize how fucked the AI industry is and panic, but I’m beginning to think they are so brainwashed nothing will happen until the circular investment schemes collapse and things go to shit in a real way outside of the stock markets to the point where it cannot be ignored any longer.

The fact that other AI companies rise in value on the stock exchange even as Nvidia plummets is so incredibly telling of how investors do not at all understand (or care) what is going on in this industry. The whole thing is driven by circular financing schemes, and in that scheme Nvidia, Micron and AMD are the only companies to have made a profit so far. They’re basically selling stocks from the money lender to buy shares in the borrower. Until they run out of idiots they can keep going forever, and idiots seem to be in unlimited supply these days.