this post was submitted on 07 Jun 2024
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What an insane valuation, lol. I wonder how gullible their seeders/initial investors were when they pitched the company initially. Needing to get that much money to settle bills and debts just blows my mind. Shit like this is why I sold my AMD shares at its peak a few months ago and why it's probably worth considering selling Nvidia now as it's peaking. The AI boom may peak a bit higher, but I think the frenzy is going to begin waning within the next ~6 months as more and more investors realize the tech is still very limited outside of backend enterprise use (e.g. using LLMs to ingest all your SOPs, regulations, technical documents, etc. and then make it available for employees to query for random work questions).
But who knows, I've been wrong before.