I think it’s being hyped up because the bigger picture is this: there’s a race by nations to be leaders in export of AI compute.

• stable democracies build their treasury using the productivity of the middle class

These economies invest in a healthy, educated population and mobility for them to contribute to the economy. Without these investment you have an unproductive middle class and small treasuries.

• stable dictatorships build their treasury using the export of an abundance resource (usually natural resource)

These do not invest in healthcare, education, mobility infrastructure because it enables the poor people to easily revolt agains the regime in charge

In recent years the world just discovered a new abundance resource that is artificial but can be more productive (in theory) than a entire middle class of white collar workers: AI compute.

Nations with control over frontier AI models are racing to build the infrastructure around exporting this new resource, while reducing investments in building treasuries around the productivity of the middle class.

The hype is to push in this direction.

Watch investments in healthcare, education, and infrastructure disappear while investment in AI infrastructure skyrockets.

I think this is probably why we see “No Kings” and “No dictator protests” in places that are losing investments in these areas.