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<\/a><\/p>\nBut I wasn\u2019t buying, and I wrote an essay here called Peak Bubble<\/a>, which read it in part:<\/p>\n OpenAI doesn\u2019t have $300 billion dollars<\/p>\n They don\u2019t have anywhere near $300 billion dollars<\/p>\n By their own (presumably optimistic) projection, they won\u2019t turn a profit until 2030.<\/p>\n And all this from a company thought (or claimed) that GPT-5 was going to be tantamount to AGI (spoiler alert: it wasn\u2019t)<\/p>\n For good measure Oracle doesn\u2019t have the chips they would need to fulfill the contracts, or even the cash to buy them.<\/p>\n I won\u2019t say that it is all make-believe, but, well, you do the math\u2026<\/p>\n If Oracle actually collects its $300 billion, I will truly be astounded.<\/p>\n Today, even after a very strong week, Oracle stands at just $170.<\/p>\n But my point then wasn\u2019t that Oracle would never rise from that point (it actually did, briefly), but that in hindsight some years from now, people would think that that spike in Oracle\u2019s stock was the peak of absurdity. <\/p>\n Maybe I spoke too soon. <\/p>\n As of today, there\u2019s a new kid in town<\/a>:<\/p>\n I can\u2019t top this summary of the above, and won\u2019t try: <\/p>\n<\/a><\/p>\n