I take from that you feel it’s a house of cards. I’ll bear this in mind as I’ve owned a decent amount of the stock since at least 2015. I’ve done quite well with it. Seems to be running up again now and has legs.
Even bubbles can pay if people know they are bubbles.
Nvidia went-up 270% and some analysts correctly see it as overvalued
"Nvidia, the latest darling of Wall Street, has surged a stunning 207% this year, prompting some critics to suggest the stock may be overvalued."
Among them is David Trainer, CEO of research firm New Constructs. "We're not denying that Nvidia is a great company, but we are pointing out that its valuation is beyond lofty and unjustifiable," he said last month."
As a PC enthusiast/builder I know cryptominers used video cards for calculations because they can do complex analysis and manipulations faster than CPUs. Graphics processors (gpus) are sports cars and central processors (cpus) are bulldozers. PC games dont rely on cpus but GPUs.
Now Nvidia always has a gimmick to maintain larger market share among gpu corps. One year it was "HairWorks" where it was claimed Nvida gpus could make character hair more natural looking. The hair was more "active" (blowing wind) but it took a huge chuck of resources. The Nvidia hype died down but only after people paid much more for the hype. Then Nvidia moved to the next hype - "ray-tracing."
Ray-tracing was all the rage on Nvidia's cards last year but people eventually realized that even experts could not pick between PCs running ray-tracing and those without it. Ray-tracing deflated but only after Nvidia played the buyers to get them to pay more.
Nvidia's "AI" marketing is the same. AI as hyped now is just an app that's using pattern-recognition algorithms. I call it all "Artificial Implementation" because there is nothing intelligent about it. It will do what its programmers want it to do. Alas they want people to think the AI is guiding itself and must be respected.
That's where other other part of the con is. AI is being set-up for control and not curing cancer, predicting weather etc. Gov wants it to control info. Agencies love it because they (and their less restricted contractors) can use it to do things without appearing in direct control. IRS wants to used AI to squeeze people like lemons - send them a bill for money "AI" says they probably owe. Getting an audit notice and an AI bill to be paid are very different
"All those dollars rolling in from enforcement activities are likely to rise going forward, given that the IRS announced over the summer that, thanks to a new funding boost, it was launching a “sweeping, historic” tax enforcement initiative using artificial intelligence (AI) and other cutting edge technologies to crack down more effectively on non-compliant taxpayers.
"The IRS has collected a record-shattering $4.9 trillion dollars in tax revenue from Americans as it increasingly relies on high tech like AI to boost collection"
Things like THAT^^^ and censorship, digital monitoring of behavior 9driving etc) is what is behind the AI marketing hype. AI news is just agitprop (like "Ukraine is winning") The "quantum" computing hardware and systems don't exist yet. AI = chains and people will realize it sooner or later. Play the bubble as a bubble for now imo.
The IRS has collected a record-shattering $4.9 trillion dollars in tax revenue from Americans as it increasingly relies on tech like AI to boost collection.
www.theepochtimes.com
DHS in charge of AI and that's all we need to know see where they want to go
On October 30, 2023, President Biden issued a landmark Executive Order to promote the safe, secure, and trustworthy development and use of artificial intelligence (AI). The Biden-Harris Administration places the highest urgency on governing the development and use of AI safely and responsibly...
www.dhs.gov
BTW it was BoA calling AI a bubble in ZH article
www.zerohedge.com
