Here the IMF is finally saying the things about an AI bubble that people in my Fedi TL were saying 2 years ago. I could mock them for being late to the Market Analysis party they’re supposed to be hosting — and I do, I do mock them — but also I’m happy to see that this conversation has broken through to IMF circles.
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The provenance of the money flooding into the AI bubble matters.
Fossil fuel private equity interests were hoping to use data centers as a way to keep its captive consumer markets. By any means necessary.
Fossil fuel money funds Yandex.
https://www.straitstimes.com/world/europe/uk-imposes-sanctions-on-russian-shadow-ships-and-yandex-bank
Fossil fuel money funds Google & Peter Thiel.
https://www.bloomberg.com/news/articles/2018-04-06/google-thiel-stand-out-in-saudi-prince-s-silicon-valley-tour
Fossil fuel money funds SpaceX.
https://www.fortuneindia.com/amp/story/business-news/how-spacex-fetched-saudi-prince-alwaleed-bin-talal-a-13-bn-jackpot/142976
Silicon Valley is funded by fossil fuels
https://www.cnbc.com/amp/2019/06/30/koch-network-throws-its-weight-behind-silicon-valley.html
https://www.axios.com/2017/12/14/koch-tries-its-hand-at-venture-capital-1513277500
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@inthehands In case someone wants to read the full report (that wasn't linked in the article, as far as I can see): https://www.imf.org/en/publications/gfsr/issues/2026/10/13/global-financial-stability-report-october-2026
International Monetary Fund