and this participated today’s huge market sell off.
Partially, I am sure. There are so many conflicting points of view. There are circular cash flows between hardware manufacturers and suppliers and those that are setting up server farms in conjunction with AI providers, along with a lot of other shady dealings. Some of these involving government entities and shady politicians.
And then there is the hype which has people and investors very confused. Much of the publicly available information shows that the entire tech sector is on an unsustainable path. And then there are companies who have bet the farm that they will be able to operate with less qualified and cheaper employees using AI tools... As the data comes in it has become more and more clear that this does not work out well in the long runs. AI bots tend to write code and scripts that are mediocre and is difficult to maintain because it constantly needs troubleshooting by the types of employees companies were hoping that they could get by without.