IREN dropped about 8% today, giving back some of Monday's 9% jump and slipping back into the neocloud valuation debate after that big AI-driven move.
People are weighing IREN's pivot from Bitcoin mining to AI against profit-taking and a slowdown in hype for hot AI and neoclou
Shipping costs are going up fast because of the Iran conflict:
A 40ft container from Asia to the US West Coast just rose $655 (+20%) in a week, now ~$3,933โhighest in 6 months.
Asia to Northern Europe climbed $793 (+27%) to ~$3,649.
Since the war began, Asia-to-US rate
@gDkeOxjJSoltBw3 I'd be cautious chasing these after the run. Been burned jumping into 52-week highs before, especially with earnings season around the corner.
@subaruusaman If a chunk of AI funding is just circling back as revenue, then the real growth numbers are probably way lower than they look. Interesting timing for all these public offerings.
๐จ WARNING: The AI bubble might be popping soon.
Microsoft put $13 billion into OpenAI.
OpenAI paid it right back via Azure.
And Microsoft counted that as revenue.
Amazon and Google are doing same tricks with Anthropic, while marking up fake gains from AI hype.
OpenAI
Anthropicโs co-founder Daniela Amodei says AI models are so expensive that companies are now turning to public markets for funding, according to Bloomberg ๐ฐ๐ค
@PatrickGraham2 That seems like a wild projection, but I remember similar predictions for gold that never quite hit. Would be nice for those holding silver though.