Ed Zitron
@edzitron
Newsletter - Better Offline Podcast - - CEO at
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the pitt video game actually looks pretty cool
Joined Jon Stewart on @weeklyshowpod to talk about the AI bubble, the massive credit risk of AI data centers, Anthropic's S-1, and how American retail investors are massively exposed to the unwinding of the AI trade.
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Hilarious to say this in a quarter where OpenAI was 11% of revenue
$MSFT Nadella on the call made a very revealing statement when it comes to AI, and directed a subtle dig at OpenAI. Nadella said Microsoft wants to sell AI to a broad base of enterprises, and this "breadth" is finally starting to show up. "That's what I've been waiting for, as opposed customers who buy a lot of capacity from you and you can show a few quarters of growth. That's not a business as far as I'm concerned"
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It’s tough there but it’s life
Passengers have been kicked off an “endless” cruise as the operator blames a massive jump in fuel costs
Some paid $120,000 for residency on the Villa Vie Odyssey, but have been left in Cambodia
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Also introduced Jon Stewart to my cat Howl
Joined Jon Stewart on @weeklyshowpod to talk about the AI bubble, the massive credit risk of AI data centers, Anthropic's S-1, and how American retail investors are massively exposed to the unwinding of the AI trade.
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Contingent on OpenAI paying and Oracle completing 7gw of capacity lol
$ORCL - ORACLE TARGETS $225 BILLION IN REVENUE BY 2030
Oracle forecasts at least $225 billion in revenue by fiscal 2030, implying over 35% annualized growth.
The company targets 40% operating margins, $21 EPS, and $30 billion in free cash flow by fiscal 2029.
Oracle expects AI infrastructure spending to peak in 2027–2028 before transitioning to self-funded growth.
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🚨 New episode on YouTube with Ed Zitron (@edzitron)!🚨
We discuss:
➡️ AI House of Cards
➡️ Artificial Profits?
➡️ The Money Loop
➡️ Sexiest Man Alive?
Watch now:
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Joined Jon Stewart on @weeklyshowpod to talk about the AI bubble, the massive credit risk of AI data centers, Anthropic's S-1, and how American retail investors are massively exposed to the unwinding of the AI trade.
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Free newsletter: Anthropic’s S-1 uses an anomalous quarter to con investors into becoming its exit liquidity, and explicitly states that its costs will grow aggressively as margins decline. Its $430bn in non-cancellable contracts are yet to start hitting.
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Here's my full chat with @juleshyman, @Pras_S and @byjakeconley on @YahooFinance about Anthropic and OpenAI's IPOs, how they'll both need hundreds of billions in debt to keep up with their $1.3tn in obligations, and NVIDIA's GPU channel stuffing operation.
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As I said to @juleshyman, @Pras_S and @byjakeconley on @YahooFinance, Jensen Huang is channel stuffing to pump NVIDIA's revenues, forcing GPUs on customers months in advance and making everything more expensive for everyone. It's morally reprehensible.
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Joined @JackFarley96 on Monetary Matters to talk about Anthropic's $8bn in 2025 losses/$400bn+ in non-cancellable commitments, the skyrocketing cost of AI debt, Oracle's distressed debt, and why the more GPUs they buy, the more expensive everything gets.
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Per Reuters, Anthropic has $252 billion in non-cancelable compute obligations across Microsoft, Google and Amazon, and $161.2 billion in Broadcom TPU lease obligations that are "largely non-cancelable". Truly insane.
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Larry Ellison pledged $9.2bn in shares to a new personal loan. Can’t imagine the interest rate is great on them given the climate. Oracle shareholders are not gonna love a margin loan at a stock price that’s already shaky
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Beast mode
@AQululu66418 We’ve already responded to you numerous times via DM on different social media platforms. The response isn’t going to magically change just because you’re asking the same question on X now. /Flo
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New queens of the Stone Age is genuinely amazing, I’m stunned
Free newsletter: I estimate that ~50% of AI chip sales - $200bn to $300bn+ - are sitting in warehouses, with NVIDIA selling hundreds of billions of GPUs years in advance. Data centers take way longer to build than hyperscalers are leading us to believe.
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Jensen Huang calling to shut the labs down. Go off king
Interesting back and forth. Ezra describes the HF incident, Jensen says "well they shouldn't release the product." Ezra says "this product wasn't released," and Jensen's response is that if they say they can't contain their experiments then "we have to shut the labs down"
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I love that this is how every headline ends now
*TREASURY 10-YEAR YIELD RISES TO 5.04%, HIGHEST SINCE 2007
On the AI front, the trade has been dead money for more than 3 months now. The metrics I am following (token expenditures and GPU lease rates) are all flat to down. The price of memory (DRAM) seems to be the only thing that is still going up. 🧵(1/2)
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