Hiltzik questions if AI IPOs signify an end

The article discusses the upcoming IPOs of prominent AI companies like OpenAI and Anthropic, suggesting they may signal a peak in the AI bubble rather than a new technological dawn. It highlights challenges such as unproven cost savings, high operational costs, delays in data center construction, and significant losses at these firms, raising questions about their long-term profitability. The piece compares this situation to the dot-com crash, emphasizing that IPOs often benefit insiders more than retail investors and may serve as exit opportunities for early backers amid mounting doubts about AI's economic promises.

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