this post was submitted on 01 Feb 2024
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Reuters reports that AI-related companies lost $190 billion in stock market value on Tuesday following disappointing earnings reports.

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[–] assassinatedbyCIA@lemmy.world 163 points 10 months ago (21 children)

Thank god the bubbles finally starting to burst. I am tired of hearing about ‘AI’.

[–] FaceDeer@kbin.social 39 points 10 months ago* (last edited 10 months ago) (7 children)

You're not going to stop hearing about AI. Perhaps AI companies won't be so high-profile, but AI itself is being integrated into lots of things and it's not going to go away. The only thing that's happened here is that it's proving to be not quite so profitable as expected being an AI-specific company.

Edit: Perhaps not even that, the article appears to be neglecting to mention that this is part of a trend across the whole stock market rather than something AI-specific.

[–] CustodialTeapot@lemmy.world 8 points 10 months ago (2 children)

AI isn't new. Algorithms "are" ai. All apps always used it. But it's changed from algorithms to AI.

[–] gapbetweenus@feddit.de 7 points 10 months ago (1 children)

AI is just a specific subset of algorithms, also not that new - first concept are from 1960 or so (from memory don't quote me) with perceptron. New is parallel computing power of modern chips - that allows for far better performance.

[–] CustodialTeapot@lemmy.world 3 points 10 months ago

Absolutely is. It's fucking outstanding how big corps are eating it up.

Alrogithm corp = nothing new, boring low evaluation

Change it's name to:

AI corp= 1 BILLION DOLLARS!

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