MONEY IS POURING INTO AI. SKEPTICS SAY IT’S A ‘GRIFT SHIFT’

Summary from the TLDR Web Dev newsletter

The move from crypto to artificial intelligence fueled the markets this year, but some are questioning how much of it is real. A company that wasn’t doing well renamed itself to “Applied Blockchain”, but a little too late. Luckily for them, ChatGPT came out a few months later. To boost their stock price, they renamed themselves “Applied Digital” and mentioned AI a few times in their earnings call, getting a hyped 450% increase in the public markets. While dollars are flowing in quickly to all things AI, it is yet to be seen whether these companies can even last.