The AI hype/scarcity frenzy (bubble) was based on Meta and xAI hoarding GPUs for themselves instead of reselling compute, making it abundant instead of scarce. All of the other datacenters were hoping to have them as customers instead of competitors.

2 lies in article:

1. byline "proves compute is scarce" is opposite. This is not a real datacenter rental deal. It is a "can quit anytime" show deal. Token consumption is down 20% since march peak.

2. "Compute costs are rising exponentially". Blatant lie, in terms of compute pricing $/gpu hour. Rates are near their accounting floor (though not at rock bottom) for H series, and the faster newer cards are just 2x the $/hour instead of the 8x saturated performance difference.