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AI Apocalypse: Investors Panic as GPT-5 Flops!
Is the AI Bubble About to Burst? You Won’t Believe What Happened Next!
First, OpenAI dropped the bombshell that is GPT-5, and let’s just say their CEO, Sam Altman, is calling it a "total screw-up!" Not only that, but over dinner with reporters, he unleashed the dreaded "B-word," sending shockwaves through the industry. That’s right, folks—a staggering 95% of generative AI projects are crashing and burning, according to a jaw-dropping MIT survey!
Tech Titans Crumble: $1 Trillion Wiped Off the Board!
Hold onto your wallets! Investors are running for the hills as the value of the S&P 500 plummets by a whopping $1 trillion! With tech stocks dominating this index, it’s clear: the AI revolution is echoing the dot-com debacle of the late ’90s! With investors jittery, is the AI boom on the brink of disaster?
Even amidst this chaos, the market did catch a breather last Friday after Fed Chair Jerome Powell hinted at a possible September rate cut—phew!
Gary Marcus: The Prophet of Doom Sees Trouble Ahead!
In the doom-and-gloom saga, Gary Marcus, a sharp-witted cognitive scientist, has been crying wolf since 2019. He’s been ringing alarm bells about the overhyped nature of AI, and now everyone is finally catching on! Marcus boldly claims that GPT-5 is a "disappointment," popping the balloon of expectations set around artificial general intelligence (AGI). Spoiler alert: it’s NOT what everyone hoped for!
He nails it when he says, “We are off the cliff!” Are you feeling the ground shaking beneath your feet yet?
Wall Street in Panic Mode: Bubbles Everywhere!
The warning signs are flashing red! Back in July, economists were already tipping their hats to the possibility of a bubble. The top 10 companies in the S&P 500—more overvalued than during the infamous IT bubble! 🤯 With colossal spending on data centers and a thriving GDP growth masquerading as potential AI demand, the writing is on the wall!
Former Google CEO Eric Schmidt is singing a different tune, backpedaling on his previous claims about AGI being just around the corner. This could spell doom for the entire tech consensus!
The Backlash Begins: Public Opinion Turns Against AI!
The mood is shifting, folks! The heat is on with warnings of a backlash against AI. With new slang like “clunker” making the rounds, buyers are dissatisfied, and it’s only getting worse! Is this the dawn of a new age of AI skepticism?
Experts Predict: Brace for Impact but Hope for Gold!
While panic reigns, some financial gurus are whispering predictions of a “golden age” for AI! Experts are calling for dramatic crashes before we hit that sweet spot of innovation. Massive investments in data centers are expected to reach a staggering $3 trillion by 2029—this rollercoaster ride is just getting started!
However, some analysts warn that the AI promises are all smoke and mirrors. Bank of America’s head of equity strategy admits, “there are elements that feel bubble-like!”
Mathematics of Madness: Why Are We Ignoring the Numbers?
The math isn’t looking rosy, either. With approximately 500 AI unicorns boasting a collective value of $2.7 trillion but generating mere pennies in profit, the sobering truth is that it “doesn’t make sense!” The optimism around AI might be founded on wishful thinking rather than hard facts!
So, folks, as curiosity turns into anxiety, and the allure of AI feels almost mystical, we can’t help but wonder: are we on the brink of an AI collapse? The drama is unfolding, and you won’t want to miss what comes next! Stay tuned, because the future just got a lot more unpredictable!
photo credit: fortune.com
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