Although many tech companies are throwing their resources at AI, it's believed the bubble will soon burst, leading to a stock market crash

“The thing that comforts me,” said Jeff Boudier at Hugging Face, the leading open platform for AI builders, “is that the internet was built on the ashes of the over-investment into the telecom infrastructure of yesterday” during the dot.com boom of the late 1990s.

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The coming AI crash “is going to enable lots of great new products and experiences, including ones we’re not thinking about today.”

Boudier’s optimism is charming, but note that he assumes this will all happen some years after the current AI-driven boom in global and especially American markets has crashed and burned, taking some of the ‘magnificent seven’ tech companies (Meta, Tesla, Alphabet, Amazon, Apple, Microsoft and Nvidia) down with it.

Meanwhile, ordinary folk will have to live through the post-crash years one day at a time, and they may find it quite difficult.

Boudier’s promise, credible or not, is that the half-trillion dollars now being hurled at AI infrastructure........

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