The magical AI money tree grows more leaves as Meta and AMD sign a deal for up to $60 billion in GPUs and a 10% stake in AMD
https://www.pcgamer.com/hardware/graphics-cards/amd-and-meta-announce-yet-another-circular-megamoney-gpu-deal-this-time-for-usd60-billion-of-chips-and-potentially-a-10-percent-stake-in-amd-for-meta/Open linkView original on lemmy.ca123
Comments21
infinite energy
Big tech rn
Problem, investors?
My previous IT director used to work for the state, and had to fly across the state last minute because the server that had been set up wouldn't power on. The people there swore up and down everything was connected properly. And confirmed it was plugged into the wall.
He walked in, unplugged the power strip from itself, and plugged it into the wall.
If it isn't already and by design, this whole AI thing is going to end up being essentially a ponzi scheme.
It's a crazy risk to have all these circular investments in each other. It sounds awfully close to round-trip/circular investment fraud.
Indeed, I personally think the purpose is to tie AI so tightly and interwoven into these huge, important companies, when the bubble pops, it'll take down the entire US tech stack... Unless the US govt bails out all of them!
Oh shit. They really signed a deal to get 10 percent of AMD? Dammit! Now what will I buy? And time to sell their stock. fuck everything about this.
Yup sold that stock 2 weeks ago. I will not support a company that helps Meta or is partially owned by Meta.
Fun fact companies worse than meta regularly buy and sell shares and options in pretty much everything
Blackrock goes brrr
10% stake in AMD? What am I going to do now? Move to RISC-V?
Yes
I'm currently AMD only (you have to be a real idiot to still use Intel at this point) but if Facebook gets it's grubby hands on AMD hardware, I'm out.
Yay for RISK-V, I guess
But muh games... and valve hardware......
That's what I was thinking. Meta is poison.
Is it horrible to say that Meta buying 10% of AMD is the closest they’ve been to having a product that anyone cared about in a long time
I suppose the Meta Quest headsets are still very well liked.
They can't make people use their dogshit VRChat clone no matter what but the hardware itself is fine.
Wow that is fucking trash.
Have they collectively lost their minds? This is like buying a bucket of lava while swimming in a volcano kind of stupid
Rewatch The Big Short. The stupidity of US finance guys is legend.