Briefs · Emerging Technologies
Did the AI bubble just pop?
The roughest three weeks in the history of AI. Three weeks ago, nothing could go wrong. Then the market took a dump. CoreWeave, the poster boy of reckless AI spending, is now worth a third of its value at the start of the month, after borrowing $52 billion at 15 percent interest. Elon Musk expects 200 neocloud companies to die. Anthropic filed to go public, asking for $100 billion while owing $265 billion through 2045. The verdict is circularly catastrophic: Nvidia’s money buys Nvidia chips, rented back to Nvidia, until the rent stops covering the debt.
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