The AI Market Is Hitting Peak Absurdity

5 hours ago

Oracle stock surged to $308 on September 11 based on a reported OpenAI deal, despite OpenAI's lack of funds and profitability projections.
The author argued in 'Peak Bubble' that the spike was absurd, citing OpenAI's delayed profits, unfulfilled AGI claims, and Oracle's insufficient chips and cash.
Oracle's stock has since dropped to $170, suggesting the earlier spike may represent a peak of market absurdity.
A new situation highlights similar absurdity: a company's stock jumped despite announcing a shift to an unrelated industry without expertise.

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