The AI circle jerk is slowing down....
- Nvidia rug pulls OpenAI ($100b commitment from September is now said to be only $20-30b)
- Oracle laying off 30,000 while saying they won't be cashflow positive until at least 2030, also telling customers they need 40% down and potentially even bring your own chips
Meanwhile Trump's UAE corruption deal has been exposed and the Commerce Department is holding up the chips that they were buying from Nvidia because they are "waiting for more investment". Essentially, they may not have paid Trump off enough yet. Nvidia is frustrated. This is all intertwined with Trump's crypto-based conflicts of interest.
Red flags all around!