There is a group of us older, more cynical veterans and losers of the great NASDAQ crash of 1999-2001 who watch today’s evens with some amusement.
After all, who could forget advertisements like these from the year 2000?
It’s a good thing that Intel was ready to deal with Moore’s Law, right?
In September of 2002, the Pentium chip was viewed as “old news” and the company introduced the Itanium chip (from the Taipei Times):
Intel’s huge bet with HP on Itanium gets iffy
From the article:
Google — the Internet’s leading search engine, powered by an arsenal of computers with 15,000 microprocessors — should be a premier customer for Intel’s new Itanium 2 super-chip.
Itanium, a joint project of Intel and Hewlett-Packard, Silicon Valley’s two largest companies, has been in the laboratory for more than a decade. Itanium is designed to excel at a sweeping array of advanced computing tasks, from solving grand scientific challenges to rendering complex graphics to slicing through vast databases. With more than 200 million transistors on each chip, it is designed to process data in big bites — 64 bits, in chipspeak — at blazing speeds.
(Emphasis jgfla)
Wow, those were the days.
Fast forward to now. I mean let’s face it 64 bits was smoking fast back in the day.
Today the new new internet thingy is not better download speeds via Roadrunner or an upgraded IBM PC, it is “artificial intelligence.”
Unfortunately for the American public and the average talking head idiot on television, there is nothing “artificial” or supremely intelligent in the third generation of AI as thrust upon the public. In fact it seems more to promote the new new bull market than reflect a potential change in the tools available for those dependent on potential new software.
AI at this point in time is nothing more than a “potential” replacement for the lower and semi-skilled employees within an office environment. It is the robotics industry, along with the programmers, that are making a difference at this point in time as AI is restricted not by mechanical movements, but by human programmers.
But hey, let the people who programmed that AI from Google above decide if you qualify for a job, a credit card, or even to purchase ground beef at the grocery store because of your carbon and social credit score.
This is reflected in insane articles like this one from the permabull financial media (via Marketwatch):
Nvidia’s stock sees one advantage that only two other chip makers share
Is this any different from the insanity of the late 1990’s or the myth that the evolution of the internet would create a new technology based society where government was not longer relevant?
The true Libertarians knew the technology of the era would result in more, not less government control, but hey, what did we know? Now fast forward to this era and “we the people” are supposed to believe that Hitler had black Wermacht soldiers serving side by side with Chinese-German troops? Well, yes, there were African troops that fought for the Wermacht believed it or not.
The Free Arabian Legion involved numerous African troops who fought on the side of the Nazis to free the Middle East and Eastern Africa Muslim regions from colonial rule.
So technically speaking, Gemini was not incorrect. Then again, what if the artificial intelligence engine decides that the Nazi death camps were actually positive to the evolution of society by eradicating individuals who might have carried disease or emotional issues, hence by killing 30% of the people who were ill by destroying 90% of a group of individuals it was logically concluded as an acceptable solution?
After all, there are a lot of those in power in various governments on a global scale who would love to have the blessing of an almighty computer deciding who deserves to live and die in their societies.
Even in America.
The dangers are obviously inherent with the technological evolution, but what about the investing risk?
It’s another repeat of history and God help us if everyone thinks that Nvidia does not have the same potential as Intel of 1999 but also the same risk.
From YahooFinance:
Nvidia’s leadership, near-monopoly in AI tech has been ‘sensational’: Expert
Uh, oh. Here we go again….
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