Is there an AI financing bubble and corruption?

[c_9@mstdn.ca]

Is there an AI financing bubble and corruption? Ed Zitron did the math, and [spoiler alert] yes.

The AI Industry Is Lying To You

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Ed Zitron's Where's Your Ed At (www.wheresyoured.at)

‘We have 241GW of “planned” capacity in America, of which only 79.5GW of which is “under active development,” but when you dig deeper, only 5GW of capacity is actually under construction?’

‘Hundreds of billions of dollars have been sunk into buying GPUs, in some cases years in advance, to put into data centers that are being built at a rate that means that NVIDIA’s 2025 and 2026 revenues will take until 2028 to 2029 to actually operationalize, and that’s making the big assumption that any of it actually gets built.

I think it’s also fair to ask where the money is actually going. 2025’s $178.5 billion in US-based data center deals doesn’t appear to be resulting in any immediate (or even future) benefit to anybody involved.’