Still flowing into the industry? Isn’t it circular investment? As far as I understand it’s very reminiscent of a Ponzi-scheme where an investment in A is paid by a loan guaranteed by an investment in B, which again is money gained by hardware purchases in C which is the company that invested in A.

So many parallels with the dot-com bubble and so much FOMO.
But the computer hardware shortage / price skyrocketing caused by the AI bros is a really bad extra.

And nothing of value was gained.

amazing what PR theatre does for a company