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‘Dot-Com Bubble 2.0’ could burst at any time
With AI mania driving unprecedented investment in the tech sector, Wall Street punters are racing to get a piece of the gold rush. Speculation on the NASDAQ is
Big tech crooks like David Sacks made hefty contributions to Trump’s second presidential campaign with the expectation that he would deregulate the crypto market, tearing up legislation introduced after the previous crash. Eyewatering sums of money are also being spent on the vast data centres necessary to power the latest AI models, with Morgan Stanley forecasting total global spending in this field will reach $3 trillion by 2029. For instance, AI is being deployed to increase the efficiency of Chinese hospitals, power robots in automated ‘dark factories’, and improve crop selection in agriculture, all at a fraction of the R&D cost directed by Silicon Valley towards chasing the AGI unicorn.
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