I do wonder why Nvida is included, though. If you include the company that all of the frontier models are pouring money into, of course the net (expenditure - profits) of the collective is going to be closer to zero :-)
If Nvidia is included, does that mean that the money Amazon, Microsoft, and Oracle get for selling compute to the frontier models are included in their revenue?
Because for Amazon in particular, the situation this pages shows is actually much WORSE than I expected. I thought they were making a killing selling compute for model training.
Given how the curves look like in terms of ramping of spend, these are very healthy numbers.
https://cloud.google.com/tpu/pricing https://en.wikipedia.org/wiki/Tensor_Processing_Unit#Second_...
For example: I have index funds which have some of these stocks. So I, by process of revealed-preference, don't think it's a bubble, or I think I will keep my money in through the bubble's pop. I don't have that much else to say!
For the record: I would respect the creator of this site equally or more if he/she said, "I'm shorting these stocks and this is why."
No one really knows how quickly AI hardware investments will become obsolete and thus how long it should be amortized, but 2-3 years would be extremely conservative, and in fact used H100 (discontinued/2 generations old) prices are higher today than they were when the equipment was new several years ago.
