News Summary

• The AI bubble is a bet that turned out to be too big, leaving you with more supply than demand.
• The supply chain that powers AI services is so complex and fluid that it’s hard to have any clarity on how much supply we’ll need a few years from now.
• Oracle has already contracted $300 billion in cloud services to OpenAI, and the companies have joined with SoftBank to build $500 billion in total AI infrastructure as part of the “Stargate” project.