• TootSweet@lemmy.worldM
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      5 days ago
      • Circular financing where all the “AI” players are paying each other making it seem like they’re worth something when they’re not (kinda like circle-jerk-style wash trading in a way.)
      • The tech CEOs and government all know that AI’s failing miserably and the bailout is already happening. The government is just casting things that are a bailout as “not a bailout” to try to keep it under wraps. (The “Great Big Beautiful Bill” had measures in it specifically to bail out AI companies.) They’re also propagandaing us hoping the public will support (or at least tolerate) a much more blatant bailout in the near future.
      • CoreWeave is a former crypto company that pivoted into building data centers. Many of the other AI players are financially dependent on CoreWeave. Meanwhile CoreWeave is in gar-fucking-gantuine amounts of debt that they will never be able to pay back in a trillion years. It’s very possible CoreWeave could be the first major domino to fall.