A SELF-REINFORCING

BUBBLE

Follow the money. It goes in circles.
NVIDIA
+$60B
ORACLE
+$12B
OPENAI
-$5B
STARGATE
$500B
$0
REAL VALUE
01
NVIDIA & Oracle invest in OpenAI, which generates no profit.
02
OpenAI, hemorrhaging money, buys Oracle hosting and Nvidia compute.
03
Government endorses $500B via Project Stargate. Money flows to OpenAI.
04
OpenAI buys more data centers. Nvidia & Oracle profit. Reinvest in OpenAI. Repeat.
JEROME POWELL
"AI is now the cornerstone of the US economy."
THE ACTUAL CORNERSTONE
FARMERSPLUMBERSENGINEERSMOTHERSTEACHERSWORKERS
WHEN THIS BUBBLE POPS
They'll get bailouts. You'll get nothing.
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