people who manufacture faulty products are at least civilly liable
lawn darts with metal tips got banned after 2 or 3 kids died, wonder what the threshhold is here, if any
They've already helped that many people kill themselves IIRC.
There's no reason to treat these psychopaths with kid gloves. The coming economic crash is baked in at this point. They can only hope they're the last data center standing afterwards and pay Trump to keep China and probably others from easily undercutting them.
"super-intelligence"
https://www.independent.co.uk/news/w...-b3063681.htmlTrump declares anyone who uses the term Artificial Intelligence to be ‘The Enemy!’
President Donald Trump on Thursday opened up a new front in his ongoing war against commonly used terms and geographic names by warning that anyone referring to Large Language Models such as OpenAI’s ChatGPT or Anthropic’s Claude as “Artificial Intelligence” would earn themselves a place on his enemies list.
Writing on Truth Social, he declared that the White House “considers anyone that uses the term, ‘Artificial Intelligence,’ as opposed to the highly accepted new and more accurate term, ‘Super Intelligence,’ THE ENEMY!”
The president’s outburst- -veiled threat landed just over a week after he signed an executive order directing executive branch agencies to begin referring to artificial intelligence, which is now embedded across the federal government, as “super intelligence” following a lunch with leaders in the AI industry, including Elon Musk, Sundar Pichai, Dario Amodei and others.
That widely mocked directive followed bizarre remarks to the U.N. General Assembly in which he declared that the U.S. “totally rejects any attempt to construct a globalist scheme” for regulating AI and declaring that the technology would be “hereinafter officially called super intelligence” because “use of the word artificial makes intelligence fake.”
“It makes it sound fake, and it is not fake. It's actually amazing,” said Trump, who the week before had launched a poll in his Truth Social feed over the weekend asking respondents to vote for either “Super Intelligence,” “Superior Intelligence,” or “Extreme Intelligence.”
...
Trump is a malignant dunce and the biggest loser ever
If you fire a bullet at a practice dummy and the bullet hits a person instead, the bullet was not “acting on its own.”
Yes, I understand the monkey had a gun; but the monkey isn't the problem - whoever gave him that gun is...
The most likely long-term outcome of the AI boom will be massive capital destruction in the US, with market share going to cheaper open-source Chinese models, according to Jefferies Financial Group Inc.
How much do they charge for that trenchant analysis?
https://www.bloomberg.com/news/featu...inancial-risksDebts and obligations to finance that are piling up. Amazon, Microsoft, Alphabet, Meta, & Oracle have collectively agreed to nearly $3 trillion dollars in leases, purchase commitments, & guarantees that don’t show up on the companies’ balance sheets
https://finance.yahoo.com/technology...131348705.htmlIf [Oracle] debt issuance and interest expense grow faster than cash generation over the next few reported quarters, it will show how much strain the AI buildout is putting on the balance sheet.
https://startupfortune.com/banks-are...st-underwrote/Six months ago, banks were racing each other to underwrite data center loans tied to Oracle, Meta and the rest of the AI buildout. Now some of the same banks are trying to get that debt off their books. JPMorgan, Morgan Stanley, SMBC and MUFG have been exploring significant risk transfers, according to a report from the Financial Times. These are deals that let a bank keep a loan on paper while shifting its riskiest slice to outside investors. The banks are doing this because they are bumping up against internal limits on how much AI-linked exposure any one lender can hold.
One case shows how stuck this has gotten. A group of banks including JPMorgan and MUFG has spent more than six months trying to distribute $38 billion in construction debt tied to a Texas and Wisconsin data center project leased to Oracle, Bloomberg has reported. Some lenders are now willing to sell pieces of it to non-bank buyers at a discount, just to move it. Six months is a long time to sit on debt nobody underwrote to hold forever.
Matthew Moniot, co-head of credit risk sharing at Man Group, told the Financial Times the deal sizes involved are "out of scale to anything we've thought about, ever." That is not a hedge-fund manager talking down a trade he wants no part of. It is someone whose job is pricing exactly this kind of risk, saying the numbers no longer fit any model he has used before.
Oracle is the clearest tell. Its five-year credit default swaps, the cost of insuring against the company defaulting, climbed to around 151 basis points in early October, levels last seen in 2009, according to market data cited by Bloomberg. S&P had already cut Oracle's credit rating to BBB-, a single notch above junk, back in July. The company is reportedly targeting more than $40 billion in additional debt and equity this fiscal year. That is on top of the $18 billion in bonds it sold in a single day last September, and the money is needed to keep funding its Texas, Wisconsin and New Mexico sites.
Frankly, the mechanics here matter more than the headline number. Banks do not sell down debt they are confident in. They sell down debt when they are worried about concentration, which is exactly what "approaching internal limits" means in plain English: too much of this bank's balance sheet is now one bet on one sector holding up. Spreading $120 billion of AI infrastructure spending across special purpose vehicles was supposed to make that risk easier to swallow. That is the structure Oracle, Meta, xAI and CoreWeave have all used to keep debt off their own balance sheets. Instead the risk is turning up at the banks that financed the SPVs in the first place.
'The AI boom still runs on the assumption that credit stays open indefinitely at reasonable terms. 6 mths of a bank struggling to sell $38 bn in loans is…evidence yet that assumption is being tested in real time, not in some theoretical downturn still years away.'
boom and bust
https://www.thestreet.com/crypto/mar...ng-old-patternBofA investment strategist Sebastian Raedler says hyperscalers are now expected to spend $1 trillion over the next 12 months, up from $330 billion in early 2025.
Hyperscalers are the cloud giants that run huge networks of data centers.
That's equal to about 3% of U.S. GDP, more than the 2.2% spent during the 1870s railroad boom and the 1.1% during the 1990s tech boom, as per the note.
Raedler writes that “most major capital cycles of the past have ended in disappointment,” even when the technology delivered.
High early profits pull in too much investment, and the extra capacity then drags prices down.
According to BofA, that pattern is starting to show. Average token prices have fallen about 50% since summer. Tokens are the units of text AI models process and bill for.
At least with the tech bust we eventually used most of that fiber, etc. This time there's just going to be thousands of GPUs buried in the desert like E.T. cartridges.
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