Better Offline Monologue: What If I'm Right?
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Aug 29, 2025 In a thought-provoking monologue, the speaker questions the sustainability of the AI boom. He examines NVIDIA's disappointing earnings and the questionable reliability of partners like CoreWeave. The discussion highlights the troubling narratives in journalism that inflate AI expectations. Frustration is aimed at the media for fostering unrealistic views of AI's profitability and job impact. It’s a call for accountability in reporting and a warning about the potential fallout from an unsustainable AI bubble.
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NVIDIA Masks The AI Bubble
- Ed Zitron argues NVIDIA's valuation masks deeper AI market weaknesses and dependency on GPU demand.
- He warns mark-to-market gains from CoreWeave can hide slowing real revenue growth.
Paper Gains Can Reverse Fast
- NVIDIA booked $2.2B from mark-to-value gains tied to CoreWeave, inflating a weak quarter.
- If CoreWeave's value collapses, NVIDIA would face symmetric write-downs and headline risk.
AI Success Is Narrow And Unprofitable
- Outside NVIDIA, major AI efforts burn cash with no clear path to profitability.
- Zitron doubts large-scale, revenue-generating use cases for current generative AI models exist.