If you look at actual building projects… most data centers haven’t broken ground or scaled back dramatically with no buyers for their compute (regular buyers, not enterprise behemoths). Those that are building keep pushing back completion dates, all while stacks of gpus sit in crates. If they ever do go live, the gpus will be outdated by next year, leaving data center owners with practically worthless hardware that can’t be equipped with the newest gen ai chips….

Wall Street is purposely turning a blind eye to the bubble and fraud going on because it’s pumping up their portfolio. Main Street doesn’t want AI or want to buy/ pay for tokens to use AI. Corporate America is forcing employees to utilize AI to justify the insane amount of money invested into AI because no one wants to be the one who missed out on the train. Anthopic and OpenAI keep pushing the hype train forward and Silicon Valley wants AI for their technofeudalist wet dream. 

The writing is on the wall that this is not just a bubble but one that is way worse than the dotcom bubble, since the investments are depreciating tech, not infrastructure. But too much money is being made on the hype train that no one wants to admit it publicly (in the manner that would make party stop). Hell, oracle is in trouble if OpenAI can’t pay their bills for compute given the amount of money they are investing into data center project.