The GenAI industry may be in worse shape than people realize. Posted Thursday night, before all the news that was reported below. I doubt Friday was as bad as it will get, so the title of this essay (“AI’s Black Friday”) is a bit tongue in cheek. But Friday was bad; across the tech industry something on the order of half a trillion dollars of market value disappeared overnight. The Dow was down, but only 1.35%. Chip companies (NVidia, Broadcom, Micron) GPU leasers (CoreWeave and Nebius) and some other major AI related companies (Oracle, Microsoft, Meta, etc) all took larger hits:The S. Korean market, heavy on semiconductors, was also down.And that wasn’t even the worst of it. Maybe this revelation was:Remember this...
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