- cross-posted to:
- usa@midwest.social
- usa@lemmy.ml
- us_news@lemmygrad.ml
- cross-posted to:
- usa@midwest.social
- usa@lemmy.ml
- us_news@lemmygrad.ml
The investor has also claimed the way Nvidia’s graphics chips are accounted for is incorrect, claiming they have a much shorter use life than has been suggested.
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my “we are not enron” t-shirt has people asking a lot of questions already answered by my shirt
They’re valued as if machine learning can replace half of all tech workers, or more, and it’s clear that that promise is way beyond the capability of the technology.
But it will let companies rip off artists, make shit code, be racist, escape liability for awful decisions they’ve offloaded onto AI, and scam people. I’m sure that’s worth something.
Can’t wait for this to blow up big tech. Apple will be the only one left standing ig because they don’t have AI.
They do have AI, there’s a slop generating feature built into new iPhones and iPads.
Apple might be one of the few US companies that bet correctly though because they’ve been focusing on making stuff work locally on the device. That is very likely where the future of AI is going, open models that you run locally. Apple managed to build a decent hardware architecture geared towards doing that.
And they’ve hedged their bets and made sure to abide with Chinese regulations etc, while Nvidia and others put all their eggs in the shaky basket that is the US
They might be able to squeeze through a crack in the wall this time, but one day the BigTech Reaper will catch them!
Not even the iCult, armed to their teeth with unrepairable landfill from their deity, will be able to help them!I suspect that in the not too distant future, the PRC will eventually outcompete them in terms of Quality, Quantity & Price.
China will make actually innovative and useful hardware using domestic ingredients that will make Apple landfill obsolete.Washington may hand out sanctions and the iCult may cry and tell people to vote with their wallet, but that won’t stop the Reaper.
Yeah, I expect so as well. There’s nothing magical about the stuff Apple puts out. They did come up with a good architecture with M series, but nothing stops Huawei from making a similar SoC using RISCV, and I don’t think it’s going to take long for them to pull ahead at this point.
I haven’t read anything recently, but it seems a while back they said they would be integrating gpt?
I think they might have some deals with openai for siri, but they’ve also been doing a lot of work on making local models run fast https://machinelearning.apple.com/research/apple-foundation-models-2025-updates
Ah yeah, I misremembered, thanks!
impossible to make predictions but i would not be shocked by an immediate or even preemptive bailout larger than Obamummer if things head south
I’m very much expecting a bailout for big tech because so much of the economy is tied up in it now. Furthermore, a bailout would necessitate QE which will make the rates go down in the short term, and that’ll create a bananza for the market.
I think it was either Chapo or True Anon, but they had a guest on to talk about OpenAI and the possibility of a bailout and he made the point that there’s nothing really to bail out in the 2008 sense.
There’s property, sure, but most of the land that data centers are built on aren’t owned by OpenAI so that’s not an option.
The chips are basically only useful for AI so he doesn’t see the government buying up a bunch of worthless hardware.
It’s just the market value that will be lost and that’s not something they see the Trump administration stepping in and just propping up a bunch of tech stocks. Which isn’t really a thing that you can do in the sense of “saving” these companies.
there’s plenty precedent for giving out DoD contracts to the likes of palantir. it might not be exactly the same but the theoretical “bailout” could rhyme
I think that was a Chapo ep, I haven’t listened to an actual TA episode in a long time and I distinctly remember hearing that conversation within the last few months
Trump just announced Project Genesis which is the federal government’s plan to integrate llms with super computers and scientific research.
I was too young to know much about the Enron fraud when it occurred - did anything even happen to any of those bastards? I once met someone who used to be a higher-up at Enron and they seemed to be doing very well for themself still
there were very few consequences for people who orchestrated that as I recall
makes sense, but had to confirm
We are not Enron
Nobody said you were Enron, jackass. You were being compared to Cisco. Specifically, Cisco circa the 2000 dot com bubble.
Nvidia says it’s not Enron. Michael Burry draws a different dot-com-era parallel.
spoiler
Nvidia and Michael Burry, the famed investor who was chronicled in “The Big Short” for spotting the subprime bubble, appear to be in a war of words.
According to Barron’s, Nvidia’s investor-relations team sent a memo to Wall Street analysts seeking to refute key points of Burry’s recent arguments against the graphics-chip maker, on topics ranging from the use of stock-based compensation to accounting. But it’s clearly the latter topic that has Nvidia on edge, alongside a perception that it’s engaged in vendor financing to make demand appear strong.
‘I am not claiming Nvidia is Enron. It is clearly Cisco.’ — Michael Burry“NVIDIA does not resemble historical accounting frauds because NVIDIA’s underlying business is economically sound, our reporting is complete and transparent, and we care about our reputation for integrity,” the memo said, according to Barron’s. “Unlike Enron, NVIDIA does not use Special Purpose Entities to hide debt and inflate revenue.”
Burry, who has disclosed bets against Nvidia and Palantir via put contracts, isn’t backing down.
Don’t miss: They bet everything on Palantir and became millionaires. Inside the market’s ultimate cult stock.
“Nvidia emailed a memo to Wall Street sell side analysts to push back on my arguments on SBC and Depreciation. I stand by my analysis,” Burry said on his new — and wildly popular — Substack publication, Cassandra Unchained. “As well, I am not claiming Nvidia is Enron. It is clearly Cisco.”
Cisco
CSCO
-0.33% was not accused of accounting fraud, but it was briefly the world’s most valuable company during the dot-com bubble, a crown Nvidia wears today. Today Cisco, which like Nvidia provided the backbone of then-burgeoning new technology, still exists but as the 28th largest company in the S&P 500.
Nvidia’s stock
NVDA
+1.37% rose on Monday, but shares are down about 14% from their late October peak.
