Of course AI and the billionaire promoters of this bullshit have created a massive bubble on par with the Telecom, Dotcom, and Housing bubbles before it. Nvidia and Palantir are Enron and Nortel of today's bubble. Fraud and hype drive all bubbles, and this is no exception. This is Michael's new BIG SHORT. And he will be right. All bubbles eventually meet their pin. But remember the pain Burry endured before his last Big Short proved to be right.

Via Hannibal999

Here is what he's showing 
OpenAI, xAI, Mistral, etc., don't need 6–10 gigawatts of GPU to serve consumers. They're not building user platforms. They're building infinite training sinks where they can burn investor dollars in real-time on Nvidia clusters, while claiming "AGI progress."
•You're not paying for finished goods you're paying for ongoing compute consumption, and that consumption is the product.
•Every dollar raised goes to burn GPUs.
•Every GPU burned gets turned into a higher valuation.
•Valuation justifies more raises.
•More raises justify more compute.

This is circular value creation burn → raise → burn → raise. It mimics product momentum, but it's 100% synthetic.
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And Nvidia = The New Central Bank of Silicon Valley

Nvidia is no longer just a hardware company it's acting like a shadow central bank, injecting liquidity into the system by offering compute in exchange for optionality, influence, or future stake.
•Nvidia "invests" $100B into OpenAI? That's not equity altruism it's forward-guaranteed CapEx demand.
•Nvidia funds or supplies CoreWeave, Figure, Mistral why? Because Nvidia isn't just selling chips, it's selling an entire monetary substrate to which the AI ecosystem is tethered.