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Are We in an AI Bubble?
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this post was submitted on 02 Jun 2024
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It's frankly ridiculous. Ai is useful but the only company that deserves to get this much gains on the stock market is possibly Nvidia, because they make actual sales of actual hardware.
Everyone else puts out AI that is much worse than open gpt with tons of marketing to try and make up for it.
There is aws summit now in a couple of days where I live and there was more AI breakout sessions than you can shake a stick at. It's definently overhyped.
AMD
Even Nvidia's gains are based on selling that hardware to outlets buying GPUs in shipping container quantities to run huge LLMs. If those companies dry up, so will Nvidia's market position. At the other side of things, their traditional market is gaming, but that industry is contracting and may not be making games that push hardware limits the way it used to. Their best long term bet might be a rumored Steam Deck/Switch like handheld (one of their own making; they do supply the chips for the Switch and upcoming Switch 2), but that's not going to justify a $3T market cap.