MSFT told investors late last month that “AI” contributions to revenue will be gradual. AMD said it expects the market for “AI” accelerators to reach more than $150 billion by … 2027. Yes, possibly, maybe, by 2027. In every single case of earnings beat during the ongoing quarterly reporting cycle nobody could, nor even tried, to contribute it to the “AI” (quotation marks intended). Dull and boring cost cuts and headcount reductions were usually the reason.
That escalated fast! Only six months? Come on, we will be bored until Christmas! Bitcoin craze burned for at least a few years, and even the MetaVerse kept us entertained for one whole solid year!
Color me surprised. When a CEO of a serious company keeps releasing meme-like statements worthy of Trump, the perception of their venerable business will eventually change, and their stock will turn into another meme-stonk. Talking about you, NVIDIA. The stock market madness and exuberance will last much longer - as the old adage goes, the market can stay irrational longer than you can stay solvent - but better buckle up, meme investors 😅
For those of us less interested in memes and more in the fascinating technology behind the LLMs, here’s a brilliant introduction by Ars Technica into the inner workings of AI Language Models: