The American hedge fund, in a letter to its clients, expressed doubts about the benefits of the alleged use of artificial intelligence because “real ones are few”
A “market bubble”. This is how he defined the Nvidia title the bottom Elliott Management because artificial intelligence applications, which are driving the tech rally in the stock market, are “overvalued”. This was declared by the company, which manages assets of approx 70 billionin a letter to its customers read by Ft.
DOUBTS ABOUT THE TECH RALLY
Elliott said he was “skeptical” that the chip asked of Big Tech companies continues to remain very high. Many of the purported uses of AI “will never be cost-effective, will not work well, will require too much energy, or will prove unreliable,” the fund explained. “Real uses are few” and coincide with simple tasks like “summarize meeting notes or generate reports”…
** This article was written by FinanceLounge