AI has infested the world as no parasite had ever done before. Forget The Last of Us and its cordyceps: this thing somehow finds its way even into places that never had a thing to do with AI before. Printers, the agricultural sector, even your plumbing and communal upkeep services are turning into AI companies now and taking multibillion IPOs. Why? It’s a fad, a trend. And maybe it’s on its way out.
After several tech companies reported on subpar earnings, and some even on how AI seems to have ruined their revenue streams, a massive stock selloff was triggered, taking hardware producer Intel down by over 30 percent and putting it on track to go below its 1971 IPO levels. The Nasdaq-100 is down 10 percent since Oct. 6, and just about every single company related to AI took a hit, big or small.
Photo by Igor Omilaev
Google (Alphabet) dropped 12.49 percent in the last five days following an earnings report that allegedly indicated AI overviews butchered its main revenue stream.…