323
A.I. Is Running on Borrowed Money (www.nytimes.com)
submitted 3 months ago by to c/technology@lemmy.world
63 comments fedilink hide all child comments
 

Risk is rising as big tech companies like Oracle — the ultimate financial source of the Ellison media empire — need to turn to the bond market for staggering sums to finance data centers.

you are viewing a single comment's thread
view the rest of the comments
[–] 133 points 3 months ago (10 children)

Is it borrowed money or is it actually fictional non-existent money?

  • permalink
  • fedilink
  • source
  • hideshow 10 child comments
    •
  • [–] 48 points 3 months ago (4 children)

    Kind of an odd phrase, given that money as a concept is fundamentally both of those things at all times.

  • permalink
  • fedilink
  • source
  • parent
  • hideshow 4 child comments
    •
  • [–] 18 points 3 months ago (3 children)

    You know what? That's completely fair. We made it up, like the easter bunny.

  • permalink
  • fedilink
  • source
  • parent
  • hideshow 3 child comments
    •
  • [–] 11 points 3 months ago*

    Or is it money that has now been turned into fictional non-existent money, because it was stolen from our own future, where it was previously being held (we thought) safely in trust for us. They're stealing the money from us. From our taxes, from our government funds and institutions, from our pensions. It's our money. At least it nominally was, before all this happened. We're being looted. The robbers are in our vault, they are packing our money into bags labelled "AI" as we speak.

  • permalink
  • fedilink
  • source
  • parent
  • [–] 2 points 3 months ago

    The money being spent to build data centers, buy equipment and electricity is real. The fact that openAI owe softbank $40bn is real.

    The future returns from these present day expenditures are imaginary. Whether softbank get their loan back is speculative. Equity raises are even more so.

  • permalink
  • fedilink
  • source
  • parent