By this point, even native tribesmen in the deepest reaches of the Amazon rain forest know the chart below and how it got where it is today.
I have long rolled my eyes skyward at the mania around AI and the trillions of market value it has created therefrom. This Gartman Curve (no, not THAT Gartman) is fitting. I don’t have to tell you where we are on the curve with AI right now.
I reliably got slammed on Twitter any time I would dare question the AI lunacy, but now it seems that even people who know what they are talking about are getting into trouble.
Simply stated, the present state of AI does not merit the mania, and this excellent article ticks off what it is, precisely, that present artificial intelligence is good at and used for………
Now let’s look at places where AI has been successful.
- AI is now used in a series of elaborate ransom scams.
- New AI bots create malware on demand.
- Cheap AI music is used to replace human songs—not because it’s better, but because it’s cheaper, and puts more power in the hands of technocrat platforms.
- Students are cheating with the aid of AI.
- AI threatens to disrupt the 2024 election with fake videos.
- Publications are misleading readers, who get served up AI articles with little disclosure.
Here is my baseless and probably unpopular opinion: you are going to hear the word GLUT within a year. There is a lag between a mania dying down and orders for NVDA goods/services being cancelled. Even so, we can see the bug-eyed lunacy start to die off already with Super Micro……….
……and C3.ai……..
……….and the “number two” of the space, Advanced Micro:
There’s honestly only one business I can support amongst all this nonsense.
Having said that, I will leave you with this lovingly constructed Layered Chart of Nvidia. The black price bars are the current rally. The blue price bars are from 2020/2021. You can, umm, see what happened next.
