The NVIDIA
SPDR Dow Jones Industrial Average ETF Trust
That’s because they — the venture capital/private equity billionaires and their good friends in certain tech executive suites and on Wall Street — stand to profit greatly if the thing really takes off. Nothing wrong with wanting to get even richer than you already are, that’s the basis of much late capitalism.
The problem is the amount of hype behind the story. Whoever has been behind the public relations/advertising of this phenomenon has done remarkable work. When I write something over on LinkedIn, a helpful prompt pops up asking if I’d prefer to have AI write it instead. And I can’t opt out of the annoying, idiotic prompt.
No one at LinkedIn asked me if that’s a feature I would like — they just put it up there anyway. Who is behind that? Are there connections between LinkedIn executives and the venture capital/private equity people who benefit? If I want fries with that, I’ll let you know when I order. I’m sure it’s all legal, it’s just insulting.
Investors who are convinced that AI will be spectacularly successful, and that the most desired AI-chips that NVIDIA makes will take the stock to unimaginable heights, could be in for a surprise, eventually or even sooner. It’s hard to believe right now as the equity price just keeps rocketing, but there are underlying issues.
For, example, here are links to recent, significant articles about serious problems with artificial intelligence as it now exists:
AI Startup Perplexity Is Directly Ripping Off Content From News Outlets (forbes.com)
Google’s AI Recommends Glue on Pizza: What Caused These Viral Blunders? (forbes.com)
The First Unintended Consequence Of AI—And It’s Huge (forbes.com)
The 15 Biggest Risks Of Artificial Intelligence (forbes.com)
Google’s AI Overview Search Results Copied My Original Work | WIRED
OpenAI’s ‘Don’t Be Evil’ Moment – The Atlantic
You Can’t Truly Be Friends With an AI – The Atlantic
Top news app caught sharing “entirely false” AI-generated news | Ars Technica
Meta faces call in EU not to use personal data for AI models | Reuters
Microsoft Sued For AI Article Accusing Innocent Man of Sexual Misconduct (futurism.com)
AI Reasoning Flaws: The Limits of Popular Large Language Models – Neuroscience News
Google and Microsoft’s AI Chatbots Refuse to Say Who Won the 2020 US Election | WIRED
Each piece of AI journalism should be studied closely, especially if you’re holding NVIDIA shares.
Will it be smooth sailing for AI and for NVIDIA chips forever and ever as the stock price and the p/e imply?
You have to wonder. The hype has been very effective —with strong belief in the hot stock story — but will it continue to be? NVIDIA shareholders might want to think about it.
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