Wall Street’s superstars are tumbling as a competitor from China threatens to upend the artificial-intelligence frenzy they’ve been feasting on.
Wall Street’s superstars are tumbling as a competitor from China threatens to upend the artificial-intelligence frenzy they’ve been feasting on.
OR: “AI speculative bubble deflates as people realise there may not be massive profit in AI”. It’s not upending the AI industry, it’s upending the expectations that AI will be a license to print money (which has been based on nothing).
It’s upending the AI investment industry, and that’s the only thing the billionaires actually care about
These companies kept promising proprietary meant that they could innovate more & that you needed billions of dollars to make it work, and then got their asses handed to them by an open source model developed in two months costing over 200x less