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A place for all those who loathe AI to discuss things, post articles, and ridicule the AI hype. Proud supporter of working people. And proud booer of SXSW 2024.

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AI Bubble Alert: ECB Joins Bank of England in Flagging Crash Risk (fintelegram.com)

submitted 13 hours ago by HaraldvonBlauzahn@feddit.org to c/fuck_ai@lemmy.world

4 comments fedilink hide all child comments

Major central banks are now openly warning that the AI hype is inflating a dangerous equity bubble. After the Bank of England’s alarm over “stretched” valuations and the risk of a sharp correction, the European Central Bank (ECB) is also warning that AI-driven stock prices could fall abruptly, with systemic consequences for global markets.

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[–] Th4tGuyII@fedia.io 15 points 11 hours ago (2 children)

Good grief... You need only look back less than 20 years ago to the 2008 housing bubble, or 25 years ago to the early 2000's .com bubble to see that AI has all the same hallmarks.

There's far too much money going in, and not enough money going out.

I just hope that people's retirement funds don't end up in the fallout.

[–] OldQWERTYbastard@lemmy.world 8 points 10 hours ago

Jokes on them! I had to nearly empty my retirement earlier this year to simply buy food and pay bills!

Late-stage capitalism! Wooohooo!

[–] Merlin@lemmy.zip 1 points 10 hours ago

Nvidia earnings saved the market today. I wonder how long it will last before more fears. As nvidia selling gpus doesn’t really mean ai is achieving what they’re investing so much money to do.