The US economy depends on an unsustainable stock market bubble driven by AI companies that are almost all losing money. Nvidia seems healthier, but serious red flags explain why its stock price is extremely volatile, and why its market capitalization dropped $600 billion in just one day. Ben Norton explains.
Topics
- 0:00 AI bubble & Nvidia
- 2:40 Magnificent Seven (Mag7) Big Tech stocks
- 4:01 US GDP growth depends on AI capex
- 5:01 AI circular financing scheme
- 6:28 OpenAI is losing money, but owes $1.4 trillion
- 7:38 Nvidia profits rise in earnings report
- 9:27 US investor madness
- 12:04 China challenges Nvidia's chip monopoly
- 13:43 Crazy volatility in Nvidia stock
- 15:08 CEO Jensen Huang's private comments
- 17:11 $600 billion drop in one day
- 18:13 Four customers make up 61% of Nvidia revenue
- 20:25 IOUs: Nvidia's accounts receivable rises
- 21:43 GPU demand? Nvidia inventories surge
- 22:37 S&P 500 falls $2 trillion in 5 hours
- 24:12 US economy built on financial house of cards
- 26:13 Markets can remain irrational...
- 27:01 Dangers of a recession or depression
- 28:13 Outro
An anonymous source commented: "I really wish he would stop pushing his head down with his left hand while gripping the bottle with the right, all the times."