Video wird geladen...

Video konnte nicht geladen werden

Beim Laden dieses Videos ist ein Problem aufgetreten. Dies könnte an einem vorübergehenden Netzwerkproblem liegen oder das Video ist möglicherweise nicht verfügbar.

Mark Cuban thinks many data centers will turn into pickleball courts He was on the The All-In Podcast making the case that AI infrastructure is being overbuilt His comparison is the 90s when everyone raced to lay fiber-optic cable Then technology got more efficient, and what followed was the... show more

Michael Burry Stock Tracker ♟

556,204 subscribers

276,258 Aufrufe • vor 1 Monat •via X (Twitter)

Wissenschaft & Technologie Bildung Nachrichten & Politik

Anya Rossi• Live Now

Private livecam show

0 Kommentare

Keine Kommentare verfügbar

Kommentare vom Original-Post werden hier angezeigt

Ähnliche Videos

Jeff Bezos just made the most counterintuitive argument in tech. An AI crash wouldn’t destroy the future. It would fund it. Jeff Bezos: “If we go back 25 years ago when the internet was in that bubble-ish moment, no one would have predicted a lot of the industrial benefits.” The dot-com bubble erased trillions in market value. Companies that raised hundreds of millions were gone within months. The money vanished. The infrastructure didn’t. Bezos: “All of that fiber optic cable that got laid, and by the way, the companies who laid all that cable went out of business.” Billions worth of fiber optic cable buried under oceans and across continents. Laid by companies that no longer exist. They went bankrupt. The cable stayed in the ground. Bezos: “Like literally went bankrupt. But the fiber optic cable was still there. And we got to use it.” Amazon. Google. Netflix. Uber. Every cloud platform. Every streaming service. All built on infrastructure paid for by dead companies. They funded the future. They just didn’t survive long enough to see it. That exact pattern is about to repeat. Hundreds of billions are flooding into AI infrastructure right now. Data centers. Chip fabrication. Power generation. Cooling systems. Some of the companies writing those checks will not exist in five years. The market will correct. Valuations will crater. The bubble narrative will be everywhere. And the infrastructure will still be standing. Data centers don’t vanish when the stock price hits zero. GPUs don’t disappear when the company folds. Power grids don’t downgrade when investors pull out. Every dollar being spent right now is permanently reshaping the physical world. It doesn’t matter which companies survive to use it. The bubble isn’t the risk. The bubble is the funding mechanism. The railroad bubble overbuilt track that connected a continent. The telegraph bubble laid wire that enabled global communication. The dot-com bubble buried fiber that carries the modern internet. Each time, the investors lost. Each time, civilization gained. AI is that same pattern running at a scale we’ve never seen. The crash will feel like a catastrophe. In hindsight, it will look like something else entirely. The largest involuntary infrastructure investment in human history. The companies that fail will have already served their purpose. The compute layer stays. And the survivors build on top of it. The question was never whether the AI bubble will pop. It’s who will be standing in the rubble with a blueprint.

Jeff Bezos just made the most counterintuitive argument in tech. An AI crash wouldn’t destroy the future. It would fund it. Jeff Bezos: “If we go back 25 years ago when the internet was in that bubble-ish moment, no one would have predicted a lot of the industrial benefits.” The dot-com bubble erased trillions in market value. Companies that raised hundreds of millions were gone within months. The money vanished. The infrastructure didn’t. Bezos: “All of that fiber optic cable that got laid, and by the way, the companies who laid all that cable went out of business.” Billions worth of fiber optic cable buried under oceans and across continents. Laid by companies that no longer exist. They went bankrupt. The cable stayed in the ground. Bezos: “Like literally went bankrupt. But the fiber optic cable was still there. And we got to use it.” Amazon. Google. Netflix. Uber. Every cloud platform. Every streaming service. All built on infrastructure paid for by dead companies. They funded the future. They just didn’t survive long enough to see it. That exact pattern is about to repeat. Hundreds of billions are flooding into AI infrastructure right now. Data centers. Chip fabrication. Power generation. Cooling systems. Some of the companies writing those checks will not exist in five years. The market will correct. Valuations will crater. The bubble narrative will be everywhere. And the infrastructure will still be standing. Data centers don’t vanish when the stock price hits zero. GPUs don’t disappear when the company folds. Power grids don’t downgrade when investors pull out. Every dollar being spent right now is permanently reshaping the physical world. It doesn’t matter which companies survive to use it. The bubble isn’t the risk. The bubble is the funding mechanism. The railroad bubble overbuilt track that connected a continent. The telegraph bubble laid wire that enabled global communication. The dot-com bubble buried fiber that carries the modern internet. Each time, the investors lost. Each time, civilization gained. AI is that same pattern running at a scale we’ve never seen. The crash will feel like a catastrophe. In hindsight, it will look like something else entirely. The largest involuntary infrastructure investment in human history. The companies that fail will have already served their purpose. The compute layer stays. And the survivors build on top of it. The question was never whether the AI bubble will pop. It’s who will be standing in the rubble with a blueprint.

Dustin

140,512 Aufrufe • vor 4 Monaten

Mark Cuban: “A lot of data centers will be turned into pickleball courts.” Mark Cuban: “What's happening now is the market leaders, Google, Meta. etc, they're borrowing hundreds of billions of dollars. And there's already a private credit problem right now. Just layer on private credit, and then you have these huge companies that have cash flow, but they're spending all their cash flow on CapEx, and then they're borrowing on top of that. That's planning for perfection. And that's going to be hard. And we're building these data centers, and if there's a price-performance curve on AI that minimizes the power requirements, there's going to be a lot of data centers that are going to be turned into pickleball courts. Everybody thinks that there's going to be so much more utilization. And there will be. It'll just scale like everybody expects. But there's going to be technological breakthroughs as well. Just like we saw fiber back in the day, it was all about putting in fiber. Then it went from 1GB fiber, to 10GB, to 100GB, and then there wasn't a fiber problem anymore. There wasn't a bandwidth problem anymore.” @jason: “It was quite the opposite. We had dark fiber that people bought for pennies on the dollar.” Cuban: “Just sitting there, right? And how is it not going to be the case that we don't get the same price performance improvements on the AI side and on the data center side?” ------------------------------ Thanks to our partners for making this possible! Most advertisers have never heard of the platform with an $11B annual run rate in ad spend. AppLovin Ads — 1B+ daily active users, full-screen video ads watched for a median of 35 seconds, and businesses are profitably spending hundreds of thousands of dollars a day on it. Advertiser access is in closed beta. The window is open at Starting a business? Northwest Registered Agent LLC gives you everything you need to build a complete Business Identity including free tools and built-in privacy. Get more at

Mark Cuban: “A lot of data centers will be turned into pickleball courts.” Mark Cuban: “What's happening now is the market leaders, Google, Meta. etc, they're borrowing hundreds of billions of dollars. And there's already a private credit problem right now. Just layer on private credit, and then you have these huge companies that have cash flow, but they're spending all their cash flow on CapEx, and then they're borrowing on top of that. That's planning for perfection. And that's going to be hard. And we're building these data centers, and if there's a price-performance curve on AI that minimizes the power requirements, there's going to be a lot of data centers that are going to be turned into pickleball courts. Everybody thinks that there's going to be so much more utilization. And there will be. It'll just scale like everybody expects. But there's going to be technological breakthroughs as well. Just like we saw fiber back in the day, it was all about putting in fiber. Then it went from 1GB fiber, to 10GB, to 100GB, and then there wasn't a fiber problem anymore. There wasn't a bandwidth problem anymore.” @jason: “It was quite the opposite. We had dark fiber that people bought for pennies on the dollar.” Cuban: “Just sitting there, right? And how is it not going to be the case that we don't get the same price performance improvements on the AI side and on the data center side?” ------------------------------ Thanks to our partners for making this possible! Most advertisers have never heard of the platform with an $11B annual run rate in ad spend. AppLovin Ads — 1B+ daily active users, full-screen video ads watched for a median of 35 seconds, and businesses are profitably spending hundreds of thousands of dollars a day on it. Advertiser access is in closed beta. The window is open at Starting a business? Northwest Registered Agent LLC gives you everything you need to build a complete Business Identity including free tools and built-in privacy. Get more at

The All-In Podcast

183,287 Aufrufe • vor 1 Monat

Mark Cuban: A lot of these data centers are going to end up as pickleball courts. “Everybody thinks there’s going to be so much more utilization and there will be… but there’s going to be technological breakthroughs as well. Just like we saw with fiber. It went from 1GB to 10 to 100GB and then there wasn’t a fiber problem anymore. How is it not going to be the case that we don't get the same price performance improvements on the AI side and on the data center side?”

Mark Cuban: A lot of these data centers are going to end up as pickleball courts. “Everybody thinks there’s going to be so much more utilization and there will be… but there’s going to be technological breakthroughs as well. Just like we saw with fiber. It went from 1GB to 10 to 100GB and then there wasn’t a fiber problem anymore. How is it not going to be the case that we don't get the same price performance improvements on the AI side and on the data center side?”

jay plemons

307,101 Aufrufe • vor 1 Monat

Jeff Bezos built a trillion dollar company on infrastructure paid for by people who went bankrupt. And he just explained why it’s about to happen again with AI. In the 1990s, companies poured billions into laying fiber optic cable across the planet. Every one of them went broke. Bezos: “All of that fiber optic cable that got laid, and by the way, the companies who laid all that cable went out of business.” They died. The cable stayed. And it became the foundation of everything that followed. Now it’s happening again. Six people. No product. They started yesterday. $20 billion valuation. Bezos: “Investors don’t usually give a team of 6 people a couple of billion dollars with no product. It’s rare. And that’s happening today.” Everyone sees this and screams bubble. Bezos sees the same thing and recognizes something older. There are two kinds of bubbles. A financial bubble, like 2008, is pure destruction. Capital vanishes. Society inherits the crater. An industrial bubble runs on entirely different logic. Bezos: “This is a kind of industrial bubble, as opposed to financial bubbles.” The 90s biotech boom burned through billions. Stocks collapsed. Companies disappeared. The drugs they created are still saving lives today. Bezos: “As a group, they all lost money. But we did get a couple of life saving drugs.” The investors lose. The inventions remain. Every single time. Most AI companies being funded right now won’t exist in five years. The people writing the checks already know it. They are not confused. They are not reckless. They are financing infrastructure the entire world will inherit. Bezos: “The benefits to society from AI are going to be gigantic.” 25 years ago, no one could have predicted what the internet would become. Least of all the people who laid the cable. They went broke before the world they built ever switched on. The AI bubble is not a sign that something has gone wrong. It is how civilization has always financed things too large for any rational person to justify. Every piece of technology you use without thinking was once someone’s life savings disappearing in real time. That is what a successful bubble looks like from the other side. You stop seeing it. It just becomes the world. The system only works because the builders believe they will be the exception. If they ever saw the pattern clearly, they would stop. And the future would stop arriving. Progress does not run on genius. It runs on brilliant people being catastrophically, necessarily wrong. The people who build the future have never been the ones who get to live in it. That is not a flaw in the system. That is the system.

Jeff Bezos built a trillion dollar company on infrastructure paid for by people who went bankrupt. And he just explained why it’s about to happen again with AI. In the 1990s, companies poured billions into laying fiber optic cable across the planet. Every one of them went broke. Bezos: “All of that fiber optic cable that got laid, and by the way, the companies who laid all that cable went out of business.” They died. The cable stayed. And it became the foundation of everything that followed. Now it’s happening again. Six people. No product. They started yesterday. $20 billion valuation. Bezos: “Investors don’t usually give a team of 6 people a couple of billion dollars with no product. It’s rare. And that’s happening today.” Everyone sees this and screams bubble. Bezos sees the same thing and recognizes something older. There are two kinds of bubbles. A financial bubble, like 2008, is pure destruction. Capital vanishes. Society inherits the crater. An industrial bubble runs on entirely different logic. Bezos: “This is a kind of industrial bubble, as opposed to financial bubbles.” The 90s biotech boom burned through billions. Stocks collapsed. Companies disappeared. The drugs they created are still saving lives today. Bezos: “As a group, they all lost money. But we did get a couple of life saving drugs.” The investors lose. The inventions remain. Every single time. Most AI companies being funded right now won’t exist in five years. The people writing the checks already know it. They are not confused. They are not reckless. They are financing infrastructure the entire world will inherit. Bezos: “The benefits to society from AI are going to be gigantic.” 25 years ago, no one could have predicted what the internet would become. Least of all the people who laid the cable. They went broke before the world they built ever switched on. The AI bubble is not a sign that something has gone wrong. It is how civilization has always financed things too large for any rational person to justify. Every piece of technology you use without thinking was once someone’s life savings disappearing in real time. That is what a successful bubble looks like from the other side. You stop seeing it. It just becomes the world. The system only works because the builders believe they will be the exception. If they ever saw the pattern clearly, they would stop. And the future would stop arriving. Progress does not run on genius. It runs on brilliant people being catastrophically, necessarily wrong. The people who build the future have never been the ones who get to live in it. That is not a flaw in the system. That is the system.

Dustin

84,950 Aufrufe • vor 1 Monat

When asked about whether AI stocks are priced too high, Jeremy Siegel said: "I think the biggest risk in AI investing is not whether it will work or not, but can it be done more cheaply?” Firstly, Siegel is a professor at the Wharton School of Business and has been analyzing markets for decades. His point is AI will work and transform the economy—there’s no doubt in this. The real risk is whether tech companies are spending too much ($1 trillion) on data centers to power AI. He pointed to a historical example: During the dot-com boom in the late 1990s, telecom companies laid thousands of miles of fiber optic cables across the country. They spent BILLIONS doing this. Then engineers discovered multiplexing—a way to send a thousand times more data through the same cables. Suddenly, all that infrastructure spending was unnecessary, contributing to the inevitable crash. Siegel is suggesting something similar could happen with AI. What if someone figures out how to run AI much more efficiently? The technology might work perfectly, but the current approach could be massively overbuilt. PS - Siegel covers this in more detail on his interview with CNBC. If you'd like to watch this to learn: - The 3 reasons why AI will transform the world just like the internet did in 90s - Why the biggest risk right now is if it can run more efficiently - How to position yourself when the inevitable crash happens RT and comment "SIEGEL" and I'll DM it to you immediately.

When asked about whether AI stocks are priced too high, Jeremy Siegel said: "I think the biggest risk in AI investing is not whether it will work or not, but can it be done more cheaply?” Firstly, Siegel is a professor at the Wharton School of Business and has been analyzing markets for decades. His point is AI will work and transform the economy—there’s no doubt in this. The real risk is whether tech companies are spending too much ($1 trillion) on data centers to power AI. He pointed to a historical example: During the dot-com boom in the late 1990s, telecom companies laid thousands of miles of fiber optic cables across the country. They spent BILLIONS doing this. Then engineers discovered multiplexing—a way to send a thousand times more data through the same cables. Suddenly, all that infrastructure spending was unnecessary, contributing to the inevitable crash. Siegel is suggesting something similar could happen with AI. What if someone figures out how to run AI much more efficiently? The technology might work perfectly, but the current approach could be massively overbuilt. PS - Siegel covers this in more detail on his interview with CNBC. If you'd like to watch this to learn: - The 3 reasons why AI will transform the world just like the internet did in 90s - Why the biggest risk right now is if it can run more efficiently - How to position yourself when the inevitable crash happens RT and comment "SIEGEL" and I'll DM it to you immediately.

Felix Prehn 🐶

88,093 Aufrufe • vor 8 Monaten

Jeff Bezos was asked about the AI bubble and answered with a story about people who lost everything. Bezos: “This is real. The benefits to society from AI are going to be gigantic.” Society, rather than shareholders. The example he reaches for makes the difference exact. Elkann: “If we go back 25 years ago, when the internet was in that bubblish moment, no one would have predicted a lot of the industrial benefits. And the fiber, huge investments were put in infrastructure.” Bezos agrees, then adds the part nobody remembers. Bezos: “Yes, it’s a perfect example. That all of that fiber optic cable that got laid, and by the way, the companies who laid all that cable went out of business.” Two things happened at the same time. The cable went into the ground and stayed there. The equity went to zero and stayed there. No rational investor would have funded that much fiber. The demand did not exist yet, and the returns came nowhere close to justifying the spend. Mania funded it instead. Overbuilding is the one thing a bubble is reliably good at. Every mile of it is still in the ground. Netflix streams on it. The entire cloud economy runs on capacity bought at a loss by people who were wiped out before the payoff arrived. That is what a bubble actually does. It moves money from investors to the public and calls it a market correction. The datacenters going up now are the same shape. Concrete, power, and silicon that will outlast whoever is currently paying for them. The companies that won the internet built on top of what everyone else paid for. Amazon was one of them.

Jeff Bezos was asked about the AI bubble and answered with a story about people who lost everything. Bezos: “This is real. The benefits to society from AI are going to be gigantic.” Society, rather than shareholders. The example he reaches for makes the difference exact. Elkann: “If we go back 25 years ago, when the internet was in that bubblish moment, no one would have predicted a lot of the industrial benefits. And the fiber, huge investments were put in infrastructure.” Bezos agrees, then adds the part nobody remembers. Bezos: “Yes, it’s a perfect example. That all of that fiber optic cable that got laid, and by the way, the companies who laid all that cable went out of business.” Two things happened at the same time. The cable went into the ground and stayed there. The equity went to zero and stayed there. No rational investor would have funded that much fiber. The demand did not exist yet, and the returns came nowhere close to justifying the spend. Mania funded it instead. Overbuilding is the one thing a bubble is reliably good at. Every mile of it is still in the ground. Netflix streams on it. The entire cloud economy runs on capacity bought at a loss by people who were wiped out before the payoff arrived. That is what a bubble actually does. It moves money from investors to the public and calls it a market correction. The datacenters going up now are the same shape. Concrete, power, and silicon that will outlast whoever is currently paying for them. The companies that won the internet built on top of what everyone else paid for. Amazon was one of them.

Dustin

14,227 Aufrufe • vor 16 Tagen

In depth explanation why blockchain companies will become the new most valuable companies in the world 🔑💨 Confirmation that blockchain adoption will be a great wealth creation event. “Many people will make alot of money”💰 This is being said to institutional investors currently about the crypto market.🎯 Over the last 20 years, the companies that pioneered retail services on the internet (Apple, Amazon, Microsoft etc) created tremendous wealth and value to become the most valuable companies in the world💨 However, international finance and commerce are significantly more valuable sectors. Blockchain being an internet based technology and making this sector more efficient will generate historical returns. 💯 Listen closely👂

In depth explanation why blockchain companies will become the new most valuable companies in the world 🔑💨 Confirmation that blockchain adoption will be a great wealth creation event. “Many people will make alot of money”💰 This is being said to institutional investors currently about the crypto market.🎯 Over the last 20 years, the companies that pioneered retail services on the internet (Apple, Amazon, Microsoft etc) created tremendous wealth and value to become the most valuable companies in the world💨 However, international finance and commerce are significantly more valuable sectors. Blockchain being an internet based technology and making this sector more efficient will generate historical returns. 💯 Listen closely👂

SMQKE

51,844 Aufrufe • vor 2 Jahren

The AI bubble argument has the causality backwards. Cerebras CEO Andrew Feldman was in the 1990s fiber optic wave. He knows what a bubble looks like. In fiber, supply was built ahead of demand - companies bet on a future that hadn't arrived. AI infrastructure is the opposite: data centers can't be built fast enough to meet demand that is already here. Cerebras has $25B in backlog. NVIDIA has a backlog. AMD has a backlog. That is not a bubble. That is a queue. If you are short AI infrastructure on bubble thesis, Feldman's framing is the counter-argument you need to engage with. Feldman's full structural argument - including the fiber optic and railroad comparisons:

The AI bubble argument has the causality backwards. Cerebras CEO Andrew Feldman was in the 1990s fiber optic wave. He knows what a bubble looks like. In fiber, supply was built ahead of demand - companies bet on a future that hadn't arrived. AI infrastructure is the opposite: data centers can't be built fast enough to meet demand that is already here. Cerebras has $25B in backlog. NVIDIA has a backlog. AMD has a backlog. That is not a bubble. That is a queue. If you are short AI infrastructure on bubble thesis, Feldman's framing is the counter-argument you need to engage with. Feldman's full structural argument - including the fiber optic and railroad comparisons:

Podcast Alpha

16,010 Aufrufe • vor 3 Monaten

$NVDA CEO Jensen Huang says the next phase of AI will be driven by applications. Chips were phase one, infrastructure was phase two and now the value shifts to companies building useful products on top of all that compute.

$NVDA CEO Jensen Huang says the next phase of AI will be driven by applications. Chips were phase one, infrastructure was phase two and now the value shifts to companies building useful products on top of all that compute.

Shay Boloor

147,148 Aufrufe • vor 5 Monaten

Chamath said AI is not like the internet. Every new user costs real money. And the infrastructure making it possible was built by everyone. His argument was the clearest case for government ownership of AI labs I have ever heard. And it had nothing to do with Bernie Sanders. Start with the internet comparison. Google and Facebook became the most profitable companies in human history because of one number. The marginal cost of adding a new user was effectively zero. One more search query cost Google nothing. One more Facebook profile cost Meta nothing. They could serve a billion people and the incremental cost of that billion person was rounding error. That is the money printer. Infinite scale at zero marginal cost. AI breaks that model completely. Every single user taxes a GPU. Every query costs electricity. Every response requires memory and compute. The marginal cost of AI is real, significant, and does not disappear at scale. You cannot print money the same way. Then Chamath made the point that landed hardest. The infrastructure these companies depend on, the power grid, the land, the data centers, the permitting, the national security apparatus that protects their chips from being stolen, none of that was built by Anthropic or OpenAI. It was built by the public. By taxpayers. By decades of government investment in the physical and legal foundation these companies are now running on. He compared it to the interstate highway system. If the federal government built the roads and two companies transported all the goods on them, a logical question at that point would be how much of that should I own? You are riding on my rails. His conclusion was direct. If he were running a sovereign wealth fund and had the negotiating leverage of the US government, he would own 75% of these companies when he was done. The internet had zero marginal cost. That is why the founders captured almost all of the value. AI has real marginal cost and runs on public infrastructure. That changes who has a claim on what gets built. WATCH THE FULL PODCAST ON The All-In Podcast

Ihtesham Ali

79,378 Aufrufe • vor 2 Monaten

The CEO of BlackRock, Larry Fink, admits that the trillions of dollars being used to build data centers and power grids will come from ordinary people’s savings accounts and pension funds, and says it is mandatory. He says America needs trillions in AI infrastructure spending, and that people will be forced to “invest” in it. “Much of this will come from savings accounts and pension accounts.”

The CEO of BlackRock, Larry Fink, admits that the trillions of dollars being used to build data centers and power grids will come from ordinary people’s savings accounts and pension funds, and says it is mandatory. He says America needs trillions in AI infrastructure spending, and that people will be forced to “invest” in it. “Much of this will come from savings accounts and pension accounts.”

Shadow of Ezra

2,789,196 Aufrufe • vor 3 Monaten

Mark Cuban watching AI repeat the exact same pattern as dot com bubble: "if there's a price performance curve on AI that minimizes the power requirements there's going to be a lot of data centers that are going to be turned into pickleball courts" this is him explaining why he thinks most VCs and funds are about to get wiped out, why CEOs have no idea what's coming, and what the dot-com bubble taught him about what happens when everyone prices to perfection "it's not the traditional dot-com bubble - but it could just destroy a lot of VCs and a lot of funds and a lot of PE - because they're going all in" "CEOs have no clue what is going on with AI - none whatsoever - and that's not going to change" "every single business plan ever written in the history of business plans is wrong" bookmark & watch the full conversation ↓

Mark Cuban watching AI repeat the exact same pattern as dot com bubble: "if there's a price performance curve on AI that minimizes the power requirements there's going to be a lot of data centers that are going to be turned into pickleball courts" this is him explaining why he thinks most VCs and funds are about to get wiped out, why CEOs have no idea what's coming, and what the dot-com bubble taught him about what happens when everyone prices to perfection "it's not the traditional dot-com bubble - but it could just destroy a lot of VCs and a lot of funds and a lot of PE - because they're going all in" "CEOs have no clue what is going on with AI - none whatsoever - and that's not going to change" "every single business plan ever written in the history of business plans is wrong" bookmark & watch the full conversation ↓

Сarm1ne

691,834 Aufrufe • vor 1 Monat

$Jeff Bezos just said an AI crash would be the best thing that ever happened to AI. Sounds insane until you look at what happened last time. Telecom companies invested $500 billion into fiber optic cable between 1996 and 2001. Most of it financed with debt. The growth in capacity outstripped demand by orders of magnitude. By 2005, 85% of the fiber they laid was still dark. Unused. The companies that built it went bankrupt. WorldCom. Global Crossing. 360networks. Exposed as fraud, overleveraged, or both. $2 trillion in telecom stock value evaporated. The cable stayed in the ground. 80.2 million miles of fiber, representing 76% of all digital wiring in the United States at that point, survived every bankruptcy filing and liquidation sale. The glass in the ground didn't care who owned the company above it. Amazon launched Prime Video on that fiber. Netflix streamed its first original on it. Google built YouTube on bandwidth that cost 90% less than it would have before the crash because dead companies had already paid for the capacity. Every cloud platform, every streaming service, every video call you've taken in the last decade runs on infrastructure that bankrupt telecom companies subsidized with investor money they never returned. Now look at 2026. Big Tech is spending $400 billion on data centers this year alone. Amazon's capex plan is $200 billion, the largest in corporate history. The AI bubble, by one estimate, is 17 times the size of the dot-com bubble. Bezos himself called it an "industrial bubble" at Italian Tech Week. Here's why he's calm about it. He watched the exact same movie in 2001. Amazon nearly died in that crash. Stock dropped 90%. But when the dust settled, Bezos had cheap bandwidth, empty data centers looking for tenants, and a trained workforce of engineers that the dead dot-coms had paid to train. AWS was built on the rubble. The pattern is specific. Investors fund infrastructure. Companies die. Infrastructure survives. The next generation builds on it at a fraction of the original cost. Data centers don't disappear when an AI startup folds. Chips depreciate, but the buildings, the power connections, the cooling systems, the land with energy contracts attached to it: all of that persists. When AI companies fail, they'll leave behind computing capacity that someone else will rent for pennies on the dollar. Bezos is making a $200 billion bet with full awareness that much of the industry around him will collapse. He's seen this before. The last time the bubble popped, it handed him the raw materials to build a $2 trillion company. The investors who funded the fiber never saw a return. The company that inherited it became the most valuable on earth.$

Jeff Bezos just said an AI crash would be the best thing that ever happened to AI. Sounds insane until you look at what happened last time. Telecom companies invested $500 billion into fiber optic cable between 1996 and 2001. Most of it financed with debt. The growth in capacity outstripped demand by orders of magnitude. By 2005, 85% of the fiber they laid was still dark. Unused. The companies that built it went bankrupt. WorldCom. Global Crossing. 360networks. Exposed as fraud, overleveraged, or both. $2 trillion in telecom stock value evaporated. The cable stayed in the ground. 80.2 million miles of fiber, representing 76% of all digital wiring in the United States at that point, survived every bankruptcy filing and liquidation sale. The glass in the ground didn't care who owned the company above it. Amazon launched Prime Video on that fiber. Netflix streamed its first original on it. Google built YouTube on bandwidth that cost 90% less than it would have before the crash because dead companies had already paid for the capacity. Every cloud platform, every streaming service, every video call you've taken in the last decade runs on infrastructure that bankrupt telecom companies subsidized with investor money they never returned. Now look at 2026. Big Tech is spending $400 billion on data centers this year alone. Amazon's capex plan is $200 billion, the largest in corporate history. The AI bubble, by one estimate, is 17 times the size of the dot-com bubble. Bezos himself called it an "industrial bubble" at Italian Tech Week. Here's why he's calm about it. He watched the exact same movie in 2001. Amazon nearly died in that crash. Stock dropped 90%. But when the dust settled, Bezos had cheap bandwidth, empty data centers looking for tenants, and a trained workforce of engineers that the dead dot-coms had paid to train. AWS was built on the rubble. The pattern is specific. Investors fund infrastructure. Companies die. Infrastructure survives. The next generation builds on it at a fraction of the original cost. Data centers don't disappear when an AI startup folds. Chips depreciate, but the buildings, the power connections, the cooling systems, the land with energy contracts attached to it: all of that persists. When AI companies fail, they'll leave behind computing capacity that someone else will rent for pennies on the dollar. Bezos is making a $200 billion bet with full awareness that much of the industry around him will collapse. He's seen this before. The last time the bubble popped, it handed him the raw materials to build a $2 trillion company. The investors who funded the fiber never saw a return. The company that inherited it became the most valuable on earth.

Aakash Gupta

104,178 Aufrufe • vor 4 Monaten

Dr. Eric Schmidt says AI needs “energy in all forms: renewable, non-renewable, whatever.” “It needs to be there, and it needs to be quickly.” “People are planning 10 gigawatt data centers.” “An average nuclear power plant in the United States is one gigawatt.” “Data centers will require an additional 29 gigawatts of power by 2027 and 67 more gigawatts by 2030.” “These things are industrial at a scale I have never seen in my life.” This is exactly why I believe the market is still underestimating the AI power and infrastructure opportunity in companies like $TE, $BE, $PUMP, $PSIX, $SMR, $FCEL, $MARA, $KEEL, and $OKLO. The biggest constraint to scaling AI remains electricity. The companies building power generation, grid infrastructure, electrical equipment, cooling systems, and AI data centers could be among the biggest beneficiaries over the next decade. Not financial advice. Do your own research.

Dr. Eric Schmidt says AI needs “energy in all forms: renewable, non-renewable, whatever.” “It needs to be there, and it needs to be quickly.” “People are planning 10 gigawatt data centers.” “An average nuclear power plant in the United States is one gigawatt.” “Data centers will require an additional 29 gigawatts of power by 2027 and 67 more gigawatts by 2030.” “These things are industrial at a scale I have never seen in my life.” This is exactly why I believe the market is still underestimating the AI power and infrastructure opportunity in companies like $TE, $BE, $PUMP, $PSIX, $SMR, $FCEL, $MARA, $KEEL, and $OKLO. The biggest constraint to scaling AI remains electricity. The companies building power generation, grid infrastructure, electrical equipment, cooling systems, and AI data centers could be among the biggest beneficiaries over the next decade. Not financial advice. Do your own research.

Leopold Stock Tracker

20,643 Aufrufe • vor 1 Monat

Jensen Huang just revealed his $500 BILLION financing scheme with 6 of the biggest money managers on Earth. Here's the deal they signed: Nvidia and those 6 firms are mobilizing more than $500 billion of outside capital to finance AI infrastructure. The money goes to Nvidia's own customers so they can build data centers and buy Nvidia chips. Nvidia is not putting up a single dollar. The CHIPS themselves become the collateral. This is like "buying a GM car and getting the financing from GM." Jensen clarified that none of it is Nvidia's money. That part is technically true. But then Larry Fink explained what they are actually building... Fink runs BlackRock, the largest asset manager on Earth. Asked about financing data centers, he said this is the very beginning, the way it was when he started out in the mortgage backed securities market in the 1970s. Then he called it the "next frontier of financial engineering." He compared the AI buildout to the machine that CRASHED the world economy in 2008. Then KKR's global head of digital infrastructure laid out the mechanics: He said the revenue coming off those chips can be securitized, the risk divided up, and the slices sold to investors who want exposure anywhere in the stack. So the GPU is the house, the compute bill is the mortgage payment, and the slices get sold to whoever wants them. Blackstone's John Gray made the comparison himself. He said when you buy a house the bank underwrites you and also looks at the value of the home. When an airline buys a plane, they look at the credit of the airline and at the plane. The chips are the plane. But a plane holds its value because Boeing cannot make your plane obsolete on purpose. Nvidia can, and it does it roughly every year. KKR's own man spent part of that panel praising Vera Rubin, calling the jump in tokens per watt a step change. Every leap like that makes the previous generation worth less. And the price per token has already fallen 99%, so the collateral behind these loans depreciates on a schedule Nvidia controls, while the revenue those chips earn keeps getting cheaper. So what happens if the AI companies run out of cash? Jensen said somebody else can take the machines over and operate them. "There will always be a customer for that computing platform." He planned the repossession before the first loan even closed. Then who ends up holding this paper? Fink answered that one himself: He said they will be working with pension funds across the world. David Solomon pointed at the $9 trillion sitting in US money market funds. Fink pitched moving that cash into longer dated returns and said investors who are overweight equities will rotate in too. And $500 billion is only the opening bid. Fink said the US alone needs over 70 gigawatts of power for this, and every gigawatt costs $50 to $60 billion to build. That works out to more than $3.5 TRILLION for America by itself. Six days earlier, Apollo had called its $35 billion Broadcom financing the largest of its kind ever done. This deal is literally more than 14x bigger. Solomon was the only guy on that panel who mentioned the risk. He admitted the returns will NOT all be ample, that capital will get allocated to things that do not work, and that there will be winners and losers. Jensen's case is that the machines print money. He said AI tokens are incredibly profitable. Within months everyone will realize the AI labs are extremely profitable, and that when those labs go public it will be the biggest IPOs in history. None of that has happened yet. The financing is being built right now, ahead of the proof. So this is either the largest infrastructure buildout in history, or Wall Street just turned the AI bubble into bonds and handed them to the pension funds.

Jensen Huang just revealed his $500 BILLION financing scheme with 6 of the biggest money managers on Earth. Here's the deal they signed: Nvidia and those 6 firms are mobilizing more than $500 billion of outside capital to finance AI infrastructure. The money goes to Nvidia's own customers so they can build data centers and buy Nvidia chips. Nvidia is not putting up a single dollar. The CHIPS themselves become the collateral. This is like "buying a GM car and getting the financing from GM." Jensen clarified that none of it is Nvidia's money. That part is technically true. But then Larry Fink explained what they are actually building... Fink runs BlackRock, the largest asset manager on Earth. Asked about financing data centers, he said this is the very beginning, the way it was when he started out in the mortgage backed securities market in the 1970s. Then he called it the "next frontier of financial engineering." He compared the AI buildout to the machine that CRASHED the world economy in 2008. Then KKR's global head of digital infrastructure laid out the mechanics: He said the revenue coming off those chips can be securitized, the risk divided up, and the slices sold to investors who want exposure anywhere in the stack. So the GPU is the house, the compute bill is the mortgage payment, and the slices get sold to whoever wants them. Blackstone's John Gray made the comparison himself. He said when you buy a house the bank underwrites you and also looks at the value of the home. When an airline buys a plane, they look at the credit of the airline and at the plane. The chips are the plane. But a plane holds its value because Boeing cannot make your plane obsolete on purpose. Nvidia can, and it does it roughly every year. KKR's own man spent part of that panel praising Vera Rubin, calling the jump in tokens per watt a step change. Every leap like that makes the previous generation worth less. And the price per token has already fallen 99%, so the collateral behind these loans depreciates on a schedule Nvidia controls, while the revenue those chips earn keeps getting cheaper. So what happens if the AI companies run out of cash? Jensen said somebody else can take the machines over and operate them. "There will always be a customer for that computing platform." He planned the repossession before the first loan even closed. Then who ends up holding this paper? Fink answered that one himself: He said they will be working with pension funds across the world. David Solomon pointed at the $9 trillion sitting in US money market funds. Fink pitched moving that cash into longer dated returns and said investors who are overweight equities will rotate in too. And $500 billion is only the opening bid. Fink said the US alone needs over 70 gigawatts of power for this, and every gigawatt costs $50 to $60 billion to build. That works out to more than $3.5 TRILLION for America by itself. Six days earlier, Apollo had called its $35 billion Broadcom financing the largest of its kind ever done. This deal is literally more than 14x bigger. Solomon was the only guy on that panel who mentioned the risk. He admitted the returns will NOT all be ample, that capital will get allocated to things that do not work, and that there will be winners and losers. Jensen's case is that the machines print money. He said AI tokens are incredibly profitable. Within months everyone will realize the AI labs are extremely profitable, and that when those labs go public it will be the biggest IPOs in history. None of that has happened yet. The financing is being built right now, ahead of the proof. So this is either the largest infrastructure buildout in history, or Wall Street just turned the AI bubble into bonds and handed them to the pension funds.

Ricardo

33,128 Aufrufe • vor 20 Tagen

We all know AI is the future of technology. But almost nobody will OWN the technology shaping that future. The AI race is already underway. Billions are being invested. Companies are moving fast. AI is already reshaping entire industries. But when all this value gets created…Who actually benefits? Right now, mostly a handful of billionaires and Big Tech companies. We don’t think that’s fair. If AI is being built on the data, behavior, and contributions of ordinary people… Then ordinary people should share in the value it creates. That’s exactly what we’re building at Action Model: A future where AI is owned by the people, not just the few at the top.

We all know AI is the future of technology. But almost nobody will OWN the technology shaping that future. The AI race is already underway. Billions are being invested. Companies are moving fast. AI is already reshaping entire industries. But when all this value gets created…Who actually benefits? Right now, mostly a handful of billionaires and Big Tech companies. We don’t think that’s fair. If AI is being built on the data, behavior, and contributions of ordinary people… Then ordinary people should share in the value it creates. That’s exactly what we’re building at Action Model: A future where AI is owned by the people, not just the few at the top.

Action Model

21,305 Aufrufe • vor 3 Monaten

Sam Altman: "Very soon an AI will just be running for you in the background all the time" That entire model is on its way out. But the vision isn't the tell. This is: He says everyone's going to want "so much more of this AI infrastructure than we think." That's not a roadmap. That's a man admitting he can't build chips and power fast enough. The always-on assistant is the headline. The infrastructure bottleneck underneath it is the trade almost nobody is pricing in. That gap is the whole edge.

Sam Altman: "Very soon an AI will just be running for you in the background all the time" That entire model is on its way out. But the vision isn't the tell. This is: He says everyone's going to want "so much more of this AI infrastructure than we think." That's not a roadmap. That's a man admitting he can't build chips and power fast enough. The always-on assistant is the headline. The infrastructure bottleneck underneath it is the trade almost nobody is pricing in. That gap is the whole edge.

plutos

25,689 Aufrufe • vor 2 Monaten

Sergey Brin said compute is dessert. The companies winning the AI race right now are not the ones with the most chips. They are the ones with the best algorithms. Every headline you read about AI is about data centers, Megawatts, and Nvidia orders. Billions in infrastructure and more. The entire investment thesis of the last three years has been built on compute scaling as the primary moat. Sergey thinks that framing is wrong. He pulled out an example from physics. The N-body problem. Scientists have been running those simulations since the fifties. Over the decades, raw compute improved on Moore's law. But the algorithms to solve the problem improved faster. Not slightly faster. Far faster. The algorithmic gains made the compute gains look small. He says the same thing has happened in AI over the last decade. Compute is not the meal. It is the dessert. You still want it. Nobody is turning down frontier compute. But the companies that figured out the algorithms first are the ones actually ahead. The market is pricing AI winners by who has the most chips. Sergey Brin just said that is the wrong scorecard. The ones who win this are not building the biggest data center. They are solving the harder math problem.

Sergey Brin said compute is dessert. The companies winning the AI race right now are not the ones with the most chips. They are the ones with the best algorithms. Every headline you read about AI is about data centers, Megawatts, and Nvidia orders. Billions in infrastructure and more. The entire investment thesis of the last three years has been built on compute scaling as the primary moat. Sergey thinks that framing is wrong. He pulled out an example from physics. The N-body problem. Scientists have been running those simulations since the fifties. Over the decades, raw compute improved on Moore's law. But the algorithms to solve the problem improved faster. Not slightly faster. Far faster. The algorithmic gains made the compute gains look small. He says the same thing has happened in AI over the last decade. Compute is not the meal. It is the dessert. You still want it. Nobody is turning down frontier compute. But the companies that figured out the algorithms first are the ones actually ahead. The market is pricing AI winners by who has the most chips. Sergey Brin just said that is the wrong scorecard. The ones who win this are not building the biggest data center. They are solving the harder math problem.

Ihtesham Ali

130,249 Aufrufe • vor 2 Monaten

Every Wall Street giant that owns an AI data center is suddenly looking for a buyer. And NONE of them want to be the last one holding it. Three of them made their move in the last two weeks: Vantage Data Centers is exploring an exit. Its owners, Silver Lake and DigitalBridge, are weighing a listing at around $100 billion, or a sale, or a stake sale. It would be the largest data center IPO ever done. Three days earlier, CyrusOne started the same process. KKR and Global Infrastructure Partners met Goldman Sachs and Morgan Stanley, and the banks pitched for roles on a listing that could come as early as 2027. Last month, Switch hired Goldman and JPMorgan to take it public at close to $80 billion including debt, possibly by the fourth quarter. Three different companies moved inside the same 14 days, and the same handful of investment banks took every call. And these are the exact same firms that BOUGHT these companies off the public market four years ago. Between June 2021 and early 2022, private equity took the data center industry private. Blackstone bought QTS. KKR and Global Infrastructure Partners took CyrusOne private in a deal worth about $15 billion. DigitalBridge and IFM took Switch private for about $11 billion. Together those deals ran past $35 billion. By 2023 there were only two pure-play data center companies left on the public market. The logic at the time was that data centers burn cash for years before they pay, and public shareholders hate that. But private money was patient, and private money could wait. Four years later, the AI boom arrived and every one of those buildings became a gold mine. So follow this: Switch went private at about $11 billion in 2022. Its owners now want close to $80 billion for it. That is roughly 7x, in four years, on the same buildings. And DigitalBridge sits on both sides of this. It owns a piece of Vantage and it took Switch private. It is now looking for the door on BOTH. The question now is who is supposed to buy. There is no bigger private buyer left to sell to. These are already the largest infrastructure funds on Earth, and the price tags now run to $100 billion. The only pocket deep enough is the public market, which means anyone with a brokerage account or an index fund. The people who bought low from the public are now organizing to sell high back to the public. And they are doing it while telling everyone the buildout is just getting started. KKR raised a record $19.2 billion for its newest infrastructure fund this month, and in June launched a separate company with over $10 billion committed to finance more construction. So one hand raises fresh billions to build more data centers, and the other hand sells the finished ones to whoever will take them. None of this proves anyone thinks the boom is ending. Selling into strength is what these firms are paid to do, and every one of these deals is early stage and might never happen. But the timing tells you something: The most sophisticated infrastructure investors alive spent four years accumulating these assets in private, and all decided in the same two weeks that now is the moment to find someone else to own them. Four years ago these firms decided the public market was too impatient to own data centers. Now they want the public market to own them again, at 7x the price. Quite suspicious.

Every Wall Street giant that owns an AI data center is suddenly looking for a buyer. And NONE of them want to be the last one holding it. Three of them made their move in the last two weeks: Vantage Data Centers is exploring an exit. Its owners, Silver Lake and DigitalBridge, are weighing a listing at around $100 billion, or a sale, or a stake sale. It would be the largest data center IPO ever done. Three days earlier, CyrusOne started the same process. KKR and Global Infrastructure Partners met Goldman Sachs and Morgan Stanley, and the banks pitched for roles on a listing that could come as early as 2027. Last month, Switch hired Goldman and JPMorgan to take it public at close to $80 billion including debt, possibly by the fourth quarter. Three different companies moved inside the same 14 days, and the same handful of investment banks took every call. And these are the exact same firms that BOUGHT these companies off the public market four years ago. Between June 2021 and early 2022, private equity took the data center industry private. Blackstone bought QTS. KKR and Global Infrastructure Partners took CyrusOne private in a deal worth about $15 billion. DigitalBridge and IFM took Switch private for about $11 billion. Together those deals ran past $35 billion. By 2023 there were only two pure-play data center companies left on the public market. The logic at the time was that data centers burn cash for years before they pay, and public shareholders hate that. But private money was patient, and private money could wait. Four years later, the AI boom arrived and every one of those buildings became a gold mine. So follow this: Switch went private at about $11 billion in 2022. Its owners now want close to $80 billion for it. That is roughly 7x, in four years, on the same buildings. And DigitalBridge sits on both sides of this. It owns a piece of Vantage and it took Switch private. It is now looking for the door on BOTH. The question now is who is supposed to buy. There is no bigger private buyer left to sell to. These are already the largest infrastructure funds on Earth, and the price tags now run to $100 billion. The only pocket deep enough is the public market, which means anyone with a brokerage account or an index fund. The people who bought low from the public are now organizing to sell high back to the public. And they are doing it while telling everyone the buildout is just getting started. KKR raised a record $19.2 billion for its newest infrastructure fund this month, and in June launched a separate company with over $10 billion committed to finance more construction. So one hand raises fresh billions to build more data centers, and the other hand sells the finished ones to whoever will take them. None of this proves anyone thinks the boom is ending. Selling into strength is what these firms are paid to do, and every one of these deals is early stage and might never happen. But the timing tells you something: The most sophisticated infrastructure investors alive spent four years accumulating these assets in private, and all decided in the same two weeks that now is the moment to find someone else to own them. Four years ago these firms decided the public market was too impatient to own data centers. Now they want the public market to own them again, at 7x the price. Quite suspicious.

Ricardo

70,858 Aufrufe • vor 18 Tagen

Ray Dalio: “AI is eating everything… and it might eat itself.” Ray Dalio: “Right now it looks to me like AI basically is eating everything and it might eat itself.” “What I mean by that is not produce adequate profits.” “When we look at the bubble question on AI, what a lot of people don't realize in bubbles is that through all technologies, they think that they are betting on the technology when they buy the stocks in the companies.” “That's not true. There's a giant difference between the behavior of the companies and the behavior of the technologies.” “The norm is that a lot of companies won't survive at the start. Very small percentage, and they'll all fight and so on.” “But the technologies will go on and it'll be great. That has big implications.” ---------------------------------------------- Thanks to our partner for making this happen! Airwallex is a leading global payments and financial platform for modern businesses,offering trusted solutions to manage everything from business accounts, payments, treasury, and spend management to embedded finance. Airwallex

Ray Dalio: “AI is eating everything… and it might eat itself.” Ray Dalio: “Right now it looks to me like AI basically is eating everything and it might eat itself.” “What I mean by that is not produce adequate profits.” “When we look at the bubble question on AI, what a lot of people don't realize in bubbles is that through all technologies, they think that they are betting on the technology when they buy the stocks in the companies.” “That's not true. There's a giant difference between the behavior of the companies and the behavior of the technologies.” “The norm is that a lot of companies won't survive at the start. Very small percentage, and they'll all fight and so on.” “But the technologies will go on and it'll be great. That has big implications.” ---------------------------------------------- Thanks to our partner for making this happen! Airwallex is a leading global payments and financial platform for modern businesses,offering trusted solutions to manage everything from business accounts, payments, treasury, and spend management to embedded finance. Airwallex

The All-In Podcast

74,077 Aufrufe • vor 5 Monaten