cm0002@lemmy.zip to United States | News & Politics@midwest.social · 2 days ago

Powell says that, unlike the dotcom boom, AI spending isn’t a bubble: ‘I won’t go into particular names, but they actually have earnings’

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Powell says that, unlike the dotcom boom, AI spending isn’t a bubble: ‘I won’t go into particular names, but they actually have earnings’

cm0002@lemmy.zip to United States | News & Politics@midwest.social · 2 days ago

Powell says that, unlike the dotcom boom, AI spending isn’t a bubble: ‘I won’t go into particular names, but they actually have earnings’ | Fortune

However, the Fed chair noted that the growth is unevenly distributed and concentrated among only a few companies.

The entire US economy right now is 7 companies sending a trillion fake dollars back and forth to each other, but it’s totally not a bubble according to grampa Powell.

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I’ve got enough in there to buy a used car, which I guess is my retirement residence at this point 🤷‍♀️

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