Welp, it's all kicking off this week in AI!

Steve Downey

@cstross But simultaneously the debt market is selling off bonds from SaaS companies on the panic that AI will replace them.

Two crashes on opposite sides of the same bet.

yay

Bruno Nicoletti

@cstross @adamrice Fear of missing out on the upswing. Most investors are not driven by any rational analysis but by two instincts, greed and fear. Looks like we are in the middle of the flip from one mode to the other.

Dan Sugalski

@Sdowney @cstross Every time anyone talks about the invisible hand of the market, or the wisdom of the markets, I just... point them at what the actual market does and laugh.

Jim Jones

@cstross Oof. That Microsoft dip is not pretty.

Charlie Stross

@GreatBigTable Palantir are down a similar amount!

Jim Jones

@cstross You hate to see it. Really.

cubeos

@cstross Microsoft Azure Income grew. by 39% year over year. It just grew 2% less than some people expected.

Dianne Hackborn

@cstross

"The longtime chief also criticized a lack of discipline in OpenAI’s business strategy"

Meaning they wouldn't be spending enough of that money on Nvidia's GPUs?

cliffordheath

@johnboy @Sdowney @cstross It's almost like both sides provide things that won't be needed when everyone is suddenly reduced to subsistence farming

S. Lott

@cstross What’s A16Z going to throw money at next? Have they started burning piles of money in worship of some other Big New Thing? Until the A16Z rocket fuel dries up, I think we’re stuck watching this mess.

James

@cstross

I asked ChatGPT:
Bottom line:
Yes, in the last 48 hours there are clear signs of stress across AI-linked stocks, rising skepticism, and valuation readjustment — which feels bubble-ish. But no, there’s not yet decisive evidence that the entire AI boom is bursting. It’s more like a market correction and repricing, with risk shifting from hype toward real earnings and competition.

If you want, I can break this down by specific companies, sectors (chips vs. software vs. services), or what this might mean for investing or the broader economy.

Bubble-ish….like ChatGPT is a 45 yo guy from Brooklyn.

And then it requested access to my microphone.

Maybe the day will come when it doesn’t ask.

the esoteric programmer

@cstross nah, it's probably not over, at least not yet

HTPC NZ

@cstross think it is just going to normalise along what it is always about... Existing advertising corps will run the bullshit generators baked into their honeypots - search, social media etc. Others who foolishly tried to incorporate it into their products without really having this reach already will scale down. Masses will by default increase the use of BS generators as it will be at the core of their tech use.

Licho

@cstross
1. The classic game of chicken
2. Echo chamber of yes men
3. They have the insider knowledge when the dump will happen.

That's my experience from the crypto world. That's how it usually happens. They will be the ones to scream "buy the dip, the upside is still unlimited" while emptying their bags on the retail investors.

@adamrice

Killa Koala

@cstross Jensen, are you seriously telling us you didn't think OpenAI were dodgy before today? I don't believe you, no one believes you.

Becca 🌳🚀🛀

@bjn @cstross @adamrice It's a promo to drive sales yet again. I'm looking forward to the GPU and RAM flash sales. I have some nice local model things I wanna try, without data sharing across the interwebs.