It is just AI driving the NASDAQ higher isn't it? Nvidia now worth 3.34T, up 43% in a month and now the
most valuable company in the world.
The thing is people are working out it is not real AI, just algebra and therefore derivative. Thus the hallucination problem is built in. Sam Altman has a problem with the truth and has oversold what it can do.
This would be fine, except that AI is very expensive, both to train and to answer queries. Lot of effort now going into more efficient models like GTP4o and caching which need less hardware. Sure the models become a bit less accurate but since you can't rely upon them to be 100% accurate anyway who cares.
Andriy Burkov's twitter makes for interesting reading.
IFT seems to be running into this trap, why would anyone use data centres in Aus/NZ for AI where it costs (way) more to do so?
Pretty near the peak of the bubble IMO.