Pump and dump scam. Perfect indictment of the industry as a whole now that Trumplestiltskin is prez.
Same thing happened in the dotcom boom.
What was going up during the bubble burst?
There must be some place to store the money and get out safely.
You think he’s responsible for these? Been going on decades longer.
Oh, it’s been going on since Day 1. The issue with now, is that there is no one to prosecute these behaviors. It’s made the grifters and scammers SO much more bold.
This is not new under Trump.
No, there was no “reality” here
It was a pump and dump. Even if it wasn’t intended to be, which is doubtful, as soon as it got momentum with no clear mapping to material value it became a race to pump it before it dropped.
And that’s a safe move for HFTs and large institutions because they can exit their positions before retail sees the notification that the price crashed several minutes later.
But the idea that a company liquidated everything to buy probably 500-1000 low to mid level AI GPUs would make them a competitive infrastructure service is laughable.
Prices are at their highest, the hardware will depreciate very fast on this because Nvidia has already sold their next gen capacity, it’s the wrong point in the cycle to buy, and they have no expertise here at all. Even as a show company they used entirely hosted IT services. They probably don’t even have real estate to house their DC of they ever do get built.
The whole pitch was bad.
It’s down 50% from it’s high less than 2 days ago but it’s still up 400% over 5 days. That’s hardly a crash
Because as we all know, if it doesn’t drop 100% in a single hour it’s not really a crash, just a sparkling decline.
WTF do people like you actually think when you spout this kind of gibberish!?
lol, what? I literally just looked up the stock chart.
This is extreme volatility, not a crash. It’s stupid and I’m not defending this companies pivot. This articles title is just click bait.
Also tbf their stock has already crashed before AI.
Welp, that was fast.
… Won’t you flyyyyyy hiiiiighhh freeee biiiird yeah!
guitar solo
(set to a music video of the stock ticker)
Damn I put this prompt into my non-artificial intelligence and it produced an image in my head without any extra power and water usage. Now I feel bad for cheating tech companies out of imaginary revenue.
If it makes you feel any better, the tech companies wouldn’t have made any revenue even if you did use them, they would just shovel a little more cash into the furnace and call it progress.
Surprisingly fast rebound. Wonder who it was that made some money in the hours it peaked?
What’s the opposite of a dead cat bounce? AI pivot something? Even a hamster will fly if you throw it hard enough?
Well, that went fast…
Damn. I was looking forward to how “smart” shoes would work.
Please let this be AIs pets.com.
