crypto dumping hard too. Ironic how everything turned out to be a bubble except Ai, which everyone has been predicting would crash since 2023 . Goes to show how useless the media/pundits consensus is. Ai could be a bubble, but everyone thought Ai would crash, but it has proven much more resilient than anticipated.
Well I’d argue this IS in part the AI bubble. These companies valuations depend on them owning the AI.
But people don’t want random company’s AI when they can just use Claude Code or ChatGPT.
So suddenly many just look like another shitty SaaS thing.