Passing the same $300 billion dollars back and forth between 5 companies does not make a great quarter ya nob, everyone sees how close the game is to falling apart.
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Let me fix that phrasing: "One of the richest men in the world complains that others did not give him more money after his business made so much money."
What a sad existence. Find some other form of validation, dude.
Pretended to make a bunch of money. Stock buybacks and giving AI companies money so they'll use it to buy your hardware doesn't count.
In a gold rush, the real money is in selling shovels. But you have to take cash upfront.
Which is fine and dandy until the gold miners realize that they aren’t going to find enough gold to make it worthwhile and stop buying shovels and the market value of your company depends on your ability to continue selling shovels. Twenty five years after the dot com bubble burst, shovel seller Cisco is only just now reaching the same stock price they peaked at in early April of 2000.
He pulled the same BS during covid, record profits and sales of the 30-series cards and he tells investors on a call "don't worry, we're going to get through this" as people started going back to work.
I sold off my Nvidia stock about 3-4 weeks ago in the effort of divesting myself of all the AI futures. I also had sold off Amazon, MS, Intel, etc. (I never owned Tesla). With the money I bought Berkshire Hathaway, med tech/pharm stocks and stock of my local energy supplier since they hiked my rates those MFers, as well as a chip corp opening a fab here. Also can't go wrong with MC. I keep away from crypto and consider AI a poison pill... worse than the real estate bubble in the early 2000s. Just want to say, I am not a huge investor... I just decided to buy stocks instead of shoes cuz they take up less space and tend to increase in value vs lose value. No one sells their shoes.
I also moved some money into European and Asian stocks.
I made good money off nvidia. Not going to be a bag holder.
nvidia/AI tech is hoping another industry will be the bag holder, thats why they are peddling to retail/service industries.
the CEO said. “We’re basically holding the planet together — and it’s not untrue.”
No. No dude. No. Quite the opposite.
These billionaire fucks are completely delusional. They have to go.
What I heard from scientists is claims need validation, I say we need power in our experimental setup to verify claims. Jensen says he is holding the planet together, so, let's eliminate Jensen and his next 5 in command in NVIDIA, n=6, and see if the planet breaks down. As a control, we cull Musk and his next 5 in command in Tesla and SpaceX. If the planet doesn't break down, we start doing it internationally to billionaires till there's a sign of a breakdown so we find out, empirically, how many billionaires are needed to support the planet. If we run out of billionaires before the planet breaks down, then the conclusion is the planet doesn't need billionaires. Who else wants to do science?
I never understood how capitalists claim market prices are the true source of truth and yet disagree with it when it’s not the outcome they like.
That's the neat part, it's a scam
Add a few personality disorders and it starts to make sense.
In a true free market stock prices would become totally random noise. Even the best capitalist theorists (economists) came to this conclusion.
Rich man complains investors saw through his circular financing scam to artificially inflate his ~~criminal gang's~~ enterprise's stock price.
The arrogance in some of those quotes. Holy shit.
Jensen, you and your entire company could disappear without a trace, today, and the world would be just fine.
Probably better, in fact.
Much better
Jensen doesn't seem to realize that the only company profiting from AI is nvidia, and they're profiting from companies that are losing money on AI. It's a very fragile ecosystem being over-inflated. A bubble, if you will.
Which is fine and dandy when you're paying fat dividends and not treating the inflated stock as the end goal itself.
Nvidia's annual dividend was .022%
To put that into perspective, Shell's is 3.83% and McDonald's is 2.41%.
Nvidia is showing all the signs of a business that has lost the plot. They're spending all their actual profit on buying their own products for other businesses and calling it an investment into infrastructure.
Well, most of that "incredible" quarter was just IOU's from Sam Altman.
IOUs backed in turn by IOUs
IOUs backed in IOUs that are from Nvidia, just a circle where no money actually changes hands
Oh, the guy who intimated that the US gov will have to bail their asses out because their futures were TBTF. I will be happy to see that guy in prison for his pyramid schemes.
The stock is down because the Overton window has shifted. Two or three months ago, AI was the future and question that was lunacy. Now it is a mainstream point of discussion that AI is a giant bubble, that it is entirely likely to pop at some point, and that the efforts pushing it so hard are bordering on irrational given the actual capability of the product.
If AI bubble pops, Nvidia loses. No more big tech companies with blank checks and open orders for AI chips that basically amount to 'please send us as many AI chips as you can manufacture whatever it costs we will pay'.
And, if anything there may be a surplus of AI chips and hardware in the market as companies that have built entire data centers for AI suddenly realize that paying millions for electricity so online idiots can generate videos of cats racing Roombas down F1 tracks is not a trillion-dollar business model.
I'll just be happy when gamers are able to get used GPUs at prices similar to "crypto crash" era or maybe even cheaper. That's one of the reasons I'm rooting for this bubble to pop.
Sadly I think you may be disappointed. The GPUs used for AI are not typical graphics GPUs, they aren't on PCIe cards with video ports. They are set up in configurations designed to cram as many chips as possible into as small a space as possible while still providing power and cooling for 100% output on all of them.
There still are a high amount of 4090s, modified 4080s, and 5090s in AI deployment (especially for their cost compared to the specialized stuff). It probably won't be the vast majority of cards, but it'll be nice to see in the used market.
I live in silicon valley, once that bubble bursts I'm going straight to craigslist and ebay lol
Meanwhile on the Titanic:
"People are getting so upset about a little water in the hull. They clearly don't appreciate how great the trip has been so far!"
CEO complains that his blatant circular investment infinite money glitch isn't convincing people that these perpetually unprofitable businesses are actually worth further investment.
now they are interested in linux
coward bitches
The entire market saw the US government shovelling money in to your loading dock, Jennie. The market may be ignorant, but they're not stupid.
aww, Jacket man fall down go boom?
He’s had an ego like this for a long time. I’m glad more people see it now.
The market didn't appreciate that you had a good quarter?
The fuck kind of bullshit logic is that?
What a crybaby...
The market doesn’t give a shit about you or your company. The people who bet lots of money on your company’s success or failure give a shit about whether your company is a pile of rubble in x amount of time when they can cash out.
"If we delivered a bad quarter, it is evidence there's an AI bubble. If we delivered a great quarter, we are fueling the AI bubble."
The proper way to read this is:
"We absolutely, 100% are in an already over inflated bubble, therefore if we deliver a bad quarter it could be a sign of the bubble popping. If we deliver a good quarter, we are fueling the bubble further"
I wonder how the quarters are going to look next year when OpenAI cannot pay Oracle 6 times their current revenue in contracts, and therefore Oracle won't deliver the contracted Data Center capacity requiring 2 non-existen Hoover Dams worth of power to run them and therefore NVidia will be left holding the bag on millions of commissioned but not sold GPUs
People just cashing out into other ventures it is easier to double your money elsewhere than Nvidia reach 10 trillion.
No one will appreciate when you crash the entire economy either you greedy cow