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Wait. You mean every major tech company going all-in on "AI" was a bad idea. I, for one, am shocked at this revelation.
The funny thing is, this was unveiled a while ago and I guess investors only just noticed it.
As a European, gotta say I trust China's intentions more than the US' right now.
Not really a question of national intentions. This is just a piece of technology open-sourced by a private tech company working overseas. If a Chinese company releases a better mousetrap, there's no reason to evaluate it based on the politics of the host nation.
Throwing a wrench in the American proposal to build out $500B in tech centers is just collateral damage created by a bad American software schema. If the Americans had invested more time in software engineers and less in raw data-center horsepower, they might have come up with this on their own years earlier.
Idiotic market reaction. Buy the dip, if that's your thing? But this is all disgusting, day trading and chasing news like fucking vultures
"wiped"? There was money and it ceased to exist?
The money went back into the hands of all the people and money managers who sold their stocks today.
Edit: I expected a bloodbath in the markets with the rhetoric in this article, but the NASDAQ only lost 3% and the DJIA was positive today...
Nvidia was significantly over-valued and was due for this. I think most people who are paying attention knew that
I am extremely ignorant of all this AI thing. So please can somebody "Explain Like I'm 5" why can this new thing can wipe off over a trillion dollars in US stock ? I would appreciate it a lot if you can help.
Hilarious that this happens the week of the 5090 release, too. Wonder if it'll affect things there.