Canada

At the end of September the Canadian Pension Plan Investment Board (CPPIB), to which all working Canadians outside Quebec are subscribed, held $8 billion of Nvidia stock as its largest single equity holding. In fact, its eight largest stock holdings were all AI stocks. At $33 billion of combined value, these holdings amount to a quarter of the value of the entire pension fund.

Quebec’s main pension fund, La Caisse de dépôt et placement du Québec (CDPQ), also reported Nvidia as its largest holding at the end of September. Almost all of the “Maple Eight” big pension funds also lead with Nvidia and other AI stocks as their largest holdings, or they are loaded up on index funds that are in turn overloaded with Nvidia and other AI stocks.

That doesn't sound at all good.

No bailout without public control. Period.

Demand for AI isn't going to disappear even if valuations collapse. If the hyperscalers pull out of infrastructure deals on data centers being built by big Canadian businesses and leaving them with huge liabilities, bail out the big Canadian companies by buying them out and nationalizing the data centres. The big companies are saved from liabilities, the assets transfer to the public balance sheet, and Canada ends up with real sovereign AI and the capacity to serve inference from nationalized providers.

Bail out the victims of bad investments, not the drivers of the bad investments.

This is just normal contractions during the approach to the new year. I mean AI is a bubble, and hopefully it will burst before we have major breakthroughs in robotics and battery technology, but I feel like the Al bubble has another 1-2 years before there is a huge implosion at the consumer and business level. It will still be viable in military and industrial capacities, and a few other niche applications/fields

LOL watch him bail them out, "for the good of the economy".

Aside from cohere, who are a minor player, we have nobody to bail out.

Cue the Always Sunny intro text.