<
https://theconversation.com/ai-hype-has-just-shaken-up-the-worlds-rich-list-what-if-the-boom-is-really-a-bubble-265080>
"Just for a moment this week, Larry Ellison, co-founder of US cloud computing
company Oracle, became the world’s richest person. The octogenarian tech titan
briefly overtook Elon Musk after Oracle’s share price rocketed 43% in a day,
adding about US$100 billion (A$150 billion) to his wealth.
The reason? Oracle inked a deal to provide artificial intelligence (AI) giant
OpenAI with US$300 billion (A$450 billion) in computing power over five years.
While Ellison’s moment in the spotlight was fleeting, it also illuminated
something far more significant: AI has created extraordinary levels of
concentration in global financial markets.
This raises an uncomfortable question not only for seasoned investors – but
also for everyday Australians who hold shares in AI companies via their
superannuation. Just how exposed are even our supposedly “safe”, “diversified”
investments to the AI boom?"
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
