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The US economy depends on an unsustainable stock market bubble driven by AI companies that are almost all losing money. Nvidia seems healthier, but serious red flags explain why its stock price is extremely volatile, and why its market capitalization dropped $600 billion in just one day. Ben Norton explains.
Topics
- 0:00 AI bubble & Nvidia
- 2:40 Magnificent Seven (Mag7) Big Tech stocks
- 4:01 US GDP growth depends on AI capex
- 5:01 AI circular financing scheme
- 6:28 OpenAI is losing money, but owes $1.4 trillion
- 7:38 Nvidia profits rise in earnings report
- 9:27 US investor madness
- 12:04 China challenges Nvidia’s chip monopoly
- 13:43 Crazy volatility in Nvidia stock
- 15:08 CEO Jensen Huang’s private comments
- 17:11 $600 billion drop in one day
- 18:13 Four customers make up 61% of Nvidia revenue
- 20:25 IOUs: Nvidia’s accounts receivable rises
- 21:43 GPU demand? Nvidia inventories surge
- 22:37 S&P 500 falls $2 trillion in 5 hours
- 24:12 US economy built on financial house of cards
- 26:13 Markets can remain irrational…
- 27:01 Dangers of a recession or depression
- 28:13 Outro
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We are all so obscenely fucked. It’s mind boggling to me that the company that can’t be bothered to make proper Linux drivers for their overpriced product somehow has the global economy swinging from its nuts.
I switched to AMD 5 years ago over this nonsense. Cheaper, just as good except maybe for CAD engineering and a few other niches. I can’t tell the difference with the bajillionth of increase of whateverthefuck Intel has. Arch Linux running games with no issues. No regrets here.
This is your repeated reminder that the value of a stock is not determined by actual value, but by what other investors are prepared to pay for it.
It’s all just gambling lmao
Gambling usually has calculable odds
More specifically, what investors predict they’ll be able to sell it to other investors for. No one thinks they’ll be stuck holding the bag
Is it finally bursting?
Nope, up over 2% in the last 5 days.
Stop breaking my heart
Depends what “it” is. NVDA is down 4.5% for the month. MSFT down 9%. GOOG is somehow up 24%.
Google made a pro version of Gemini 3. Benchmarks show it works like GPT on their own Tensor processors. All in house, all their own processing, and no external sources to rely on. While I don’t like any of this. Google is playing the long slow and boring con. They have all the worlds data. They can keep processing until the end of time.
And that’s why they’re up. Weirdly they’re just outside the self suck circle of openAI Oracle Amd Nvidea etc
It shows as down 3.8% over the last 5 days for me. Down 7.1% over the last month.
Which market? I looked up the S&P.
DJI is up 2% in 5 days. S&P is now up 1.27% over the same period, according to Google, using ICE Data Services data.
NASDAQ
0.68% in 5 days is what I’m seeing.
Was about to grab some popcorn…
Slowly???
Zoom out? We’re back to numbers from 2-3 weeks ago.
My numbers have all gone up after a month’s long decline. Maybe because speculators have jumped AI ship to more stable investments.
Aand were kinda back to where we started.
