110 billion more pumped into a company with no sustainable business model in sight 🫧
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And also all the military contracts that Anthropic will no longer take
Nope, it's a 110 billion IOU...there is no money being passed around. That's why when this pops. It's gonna be grizzly.
$110b pumped into a company that's literally never made a cent.
We are grateful for the support from our partners and have a lot of work to do to bring you the tools you deserve.
What about the ram and storage I deserve?
Exactly. Nobody asked for AI.
What we ask for is cheap storage and RAM.
They are taking away something we want, and replacing it with something we don't want.
It's easy. You buy a set of ram on Amazon and put your old sticks in the box when you return it.
I upgraded half the parts in my computer this way over a year ago. We really need to promote stealing from large corporations. It's silly how many people are still following the rules of society when they aren't.
This is absolutely insane to me. AI is destroying society.
Now is the time to stand by your principles. And if you don't have principles, maybe raise some. Become anti-consumption and remove yourself from capitalism, as much as possible. Hate those people. You should hate them as much as possible.
It sucks too, because the power for pattern recognition and identification behind Machine Learning is incredible, and if we were being more responsible with it, we could be using it only for truly valuable purposes like early cancer detection, assistant tools, proofreading etc, instead of training it to plagiarise other people's work and kill people somewhere.
They want to destroy society, and build a new one in its place. Preferably one, that comes without this pesky feature called "empathy".
the tools you deserve
What did we do wrong to deserve this?
The tools we deserve/need are cheap. A few pieces of wood and an angled blade.
The merry go round of fake capital continues.
We could build hundreds of thousands of homes for families that need them, but it goes to stealing water, power, and land instead.
Art, too, of course, none of it actually works without that.
I profoundly hate this timeline
So anyway, I pumped one of the biggest bubbles in history again
Fuck 110 billion.... These people have way too much money to burn. Literally throwing money away for some shit tech that so far hasn't produced any returns and probably never will.
Sam Altman is a money launderer. he's just holding the money so everyone else can say they don't have money
Yeah seriously, $Billions and $Trillions are too common in the media to have the impact they should have.
This one headline is discussing an investment of $110,000 MILLION Dollars. That's enough to let an entire football stadium (either US version or everybody else version) of people retire tomorrow.
40 years of 100,000 people working $15 an hour would just barely make that much. Before taxes. And unpaid sick time. Of course. Sorry to be US-centric but we seem to be leading the way in this whole Road To Dystopia thing.
If a RAM stick or my GPU fails in my computer, I’m ruined financially.
I had 32GB ranked ram and one stick failed. I now have 16GB now.
of course his PROFILE picture is ai GENERATED. i cringe at that cartoonish look that my older bro does with pictures.
Nvidia buying more of their own GPUs. Definitely not a bubble, just kind of circle shaped
Look, it's simple. In capitalism it works like this:
Money = more money
Society = money
You = society
More society = more money
Society = more money
Thank you for your attention to this matter.
I'm an idiot, that goes without saying, but I think that if anything needs another round of investment AND that extra investment is 110 billion of any decently used currency then maybe, just maybe, something is fundamentally wrong with the product in the first place.
However, like I said, I'm an idiot so what do I know.
Their current business model depends on keeping the AI hype going on, so from their perspective it is a good investment.
Hype amongst the public seems to be waning. Look at the woman who recently took over Xbox assuring people it wouldn't get filled with AI slop. They're starting to realise people don't want the shit they're selling. But it's not like the markets have any correlation with reality.
just the three biggest companies sinking $110 billion into a company that's never made a profit what bubble
NVidia, AWS, and SoftBank are all involved in data center construction. Wonder how much of the $110B are essentially 'store credits' that just cycle back to them?
Even micro SD cards have got crazy expensive.
I think some CEOs are starting to slowly realise how unpopular AI is with the public. But at this point their sink costs are astronomical.
Fuck those homeless/hungry/sick people I guess.
A lot of people won't have a computer/phone to make use of AI because of this 🤣
That's the goal, once you can't outright afford the hardware what do you think happens?
Subscriptions of course, much like the phone "contracts" of today, now you can rent a PC, or better yet subscribe to a cloud instance of a PC.
You'd still need to subscribe to the LLM of course, but that'd be easier if it was bundled with your cloud computer subscription.
Then comes the software bundles, because they can't just have you installing whatever you want on their cloud machines, that's leaving money on the table.
Eventually with the next generation, or the one after that it will become normalised, just another thing you can't own because fuck you, that's why.
FML: i scroll down maybe 10 posts and this : https://programming.dev/post/46457240
Can someone that lies better than me start-up a fake AI Company that's real purpose is to take all the memory and chips they have access to and sell them at a loss to normal people? Not only would the prices come down , but we'd be actively screwing over all these giant companies that invested.
This confirms me that anyone with a cute anime avatar is a huge weirdo. It doesn't even look like him.
I don't understand, ChatGPT isn't even a well performing AI. It's a household name, sure, but it's quality sucks.
Last October I built a new PC for the first time in a solid decade. My aging Intel 6700k has served me well. I had no idea of the missile barrage that I dodged by upgrading when I did.
I use my computer so seldomly that I honestly don't care. When it dies I won't be replacing it at all. The Internet quit being fun and interesting a decade ago and my smart phone is a time suck that makes it too easy not to practice music and only brings news that spoils my mood. I genuinely miss the all analog life. Thanks for reminding me. I'm going to go say hi to a stringed instrument now.
And how much of that 110 billion is real money and also isn't just rotating money that OpenAI sent to them?
Its not 110 billion up front. Its setup to hit 110 billion in several stages if they hit certain metrics like AGI or going public.
The first stage is something like 35 billion based on reports. 15 billion from Amazon, then 10 billion each from Nvidia and Softbank. Looks like Microsoft sat this round out since they arent name checked:
All of this adds a little more anxiety to OpenAI's alleged $100 billion funding round which, as The Information reports, Amazon's alleged $50 billion investment will actually be $15 billion, with the next $35 billion contingent on AGI or an IPO:
Under the terms of the investment, which are still being negotiated, Amazon would initially invest $15 billion into OpenAI, these people said. The other $35 billion could hinge on OpenAI reaching AGI or going public, the people said. The proposed Amazon investment is part of OpenAI’s current funding round, which could top $100 billion at a valuation of $730 billion before the financing.
And that $30 billion from NVIDIA is shaping up to be a Klarna-esque three-installment payment plan:
In addition, SoftBank and Nvidia each plan to invest $30 billion in three installments through the year as part of the round, said the people. Microsoft had been expected to invest low billions of dollars, The Information previously reported, but it could invest a smaller amount or none at all, according to two of the people.
Still a fuckton, but as usual Altman is hyping something that hasent actually happened.
I wanted to replace my 2TB HDD with an SSD.... but not for $400-$500.
So now that people are boycotting Open AI over their partnership with the US Department of Defense, will that extend to these corporations who are enabling Open AI and their bad policies?
So this should satisfy Sam Altman's hunger for a week?
"We did it, Patrick! We made a technological breakthrough!"
A place for all those who loathe AI to discuss things, post articles, and ridicule the AI hype. Proud supporter of working people. And proud booer of SXSW 2024.
AI, in this case, refers to LLMs, GPT technology, and anything listed as "AI" meant to increase market valuations.
