I recently reported how America's faith in Artificial Intelligence (AI) is about to destroy the U.S. economy, as investors are pouring $BILLIONS into developing new AI software, which is projected to be a $1.59 TRILLION industry by 2030.
And news continues to be reported on just how much of a fantasy this faith in AI, and technology in general, is, as we are being setup for perhaps the largest economical bubble to burst in the history of the U.S.
Today, The Information confirmed one of the reasons I gave for a possible imminent collapse of the Tech sector based on this rush into AI: there aren't enough computers in the U.S. to run all of this new, power hungry, desire for these new AI toys that do NOT produce any revenue yet.
"AI Developers Stymied by Server Shortage at AWS, Microsoft, Google - Startups and other companies trying to capitalize on the artificial intelligence boom sparked by OpenAI are running into a problem: They can’t find enough specialized computers to make their own AI software.
A spike in demand for server chips that can train and run machine-learning software has caused a shortage, prompting major cloud-server providers including Amazon Web Services, Microsoft, Google and Oracle to limit their availability for customers, according to interviews with the cloud companies and their customers. Some customers have reported monthslong wait times to rent the hardware.
Cloud providers expanding their data centers also are running into problems getting enough energy sources to power them, according to a February report from commercial real estate firm CBRE."
The Technology Community here in 2023 has obviously not learned the lessons from the Big Tech bubble burst and economic fallout in the early 2000s, and this bubble looks to be a lot worse, given how their largest bank, Silicon Valley Bank, has already failed, and many other banks in the U.S. are on the brink of collapse.
These gigantic Tech companies, such as Apple, Google, Amazon, and Microsoft, are running most of the economy today, and if they crash, so does America.
Here is more evidence that Big Tech is recklessly overspending what is left of America's wealth, and that our reliance on Technology could be close to collapsing what is remaining of the American Empire.