Positive Spins On AI & On Australia

Investor concerns that AI may be costing more than it’s worth should be put into perspective, Melissa says. It is costing a fortune to build out AI infrastructure, and investors aren’t wrong to worry that OpenAI won’t make money for years, that depreciation practices unduly inflate earnings, that AI stocks may be overvalued. But compared to the GDP impact that ubiquitous AI will have as it sparks productivity growth economywide, the worriers are sweating the small stuff. AI will put our Roaring 2020s outlook into overdrive. … Also: Nvidia’s GPUs are facing new competition from TPUs, but the broader chip industry is expanding solidly. … And: William observes that Australia’s economic strength may be a bellwether for the global economy and bode well for the US.