No shit that was a bubble. Fun for all of two seconds but application in its current form is niche/sketchy at best. There is lots of promise for the future of AI but right now it just makes things more complicated and end results are unreliable.
this post was submitted on 01 Feb 2024
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I remember YouTube videos or podcasts where presenters said that we'd have very advanced AI by GPT-5 and singularity is just around the corner. Marketing stuff of these companies pushing language models made us all fools (including me). Now finances are catching up to all this bullshit.
The same thing was said about self-driving. I recall arguing with people on reddit back in like 2018 who called me an idiot because I didn't believe we'd have full autonomous driving within the next few years. I swear these people jump from one fad to the next and dive into each one head first.
Uh yes, they do. It's the same group of people falling for this stuff over and over. Crypto, NFTs, Self Driving, AI now. What's important to them is being able to point at this stuff and make a wojack face
This is such clickbait. They just added up the total stock decline in every company that has any involvement in AI. They call Google and Microsoft AI companies.
AI is clickbait, too, so does that mean they cancel each other out or is the clickbait twice as strong?
By the way errors are dealt with in physics, I think the error only adds up. So double the clickbait.
The companies didn't lose that money. Their investors didn't even lose that money. A number went down temporarily, that's all.
If the last 40 years has taught us anything, it's that the time is always right to short ai companies
If / then / switch / while
All of these are examples of what executives are calling AI there are many scams its hilarious.
Grifters gunna grift they face no clawbacks from lying to investors.
That's a weird take given the actual numbers and relative results per company, but ok.
Microsoft's price didn't change much at all and is still trading at a 35 P/E ratio (17% higher than Apple's) despite being neck and neck in the race for the largest company in the market and allegedly not having its AI efforts actually change product usage. Clearly the market is still pricing it as if it's going to grow more somehow.
AMD is down, but since when is AMD an "AI company"? That's Nvidia through and through, who is still double digit percentage points up from a month ago, and trading at a 81 P/E ratio. The market losing faith in Nvidia's competition seems more like the opposite of this headline, given it's the key area where Nvidia has a market advantage over AMD.
Google, whose revenue is 90% ads, is down in response to falling short on ad sales. Which if anything may be a result of increased chatbot usage reducing search volume and Google's chat offering being the Bing of AI chatbots.
This is clickbait analysis.
not having its AI efforts actually change product usage
Are you ignoring Github Copilot?
Microsoft's performance was actually strongest in their Azure services in their earnings report, and I can't think of any AI products tied directly to that part of their business
Although to be fair, their big push now is baking copilot directly into Windows 12, so it would be fair to think their long term outlook is tied to that service
Didn't they already bake it into 11? I'm not caught up with 12 having only recently gotten 11 but dang.
All scams come to an end when they run out of marks to steal from.
lol rekt
based
23 skidoo
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