IREN is down about 8% today, pulling back from Mondayβs 9% jump and getting dragged back into the neocloud valuation talk after that big AI move.
People are debating its pivot from BTC mining to AI infrastructure while profits get taken and the AI hype cools off.
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In May, fewer US small businesses were looking to hire or fill positions than any time in the last six years, according to the National Federation of Independent Business.
@kuniobassman Always figured a lot of this AI hype was just companies shuffling money around to make the numbers look good. Hard to see how that ends well.
π¨ Heads up: AI bubble might be about to pop
Microsoft gave OpenAI $13 billion.
OpenAI spent it on Azure. Microsoft counted that as profit.
Amazon and Google are doing the same with Anthropic, boosting fake AI valuation gains.
OpenAI burns $60B/year on compute but only m
Anthropic's co-founder Daniela Amodei says AI models are so expensive that companies are turning to the public market for cash, according to Bloomberg πΈπ₯
Big news: Anthropic just chose Morgan Stanley and Goldman Sachs to run its IPO, according to Bloomberg.
With a $965 billion valuation from their last funding round, they've officially edged past OpenAI for the first time.