Meta has recently announced that they would be investing $600bn in AI data centers by 2028. This is a bit misleading for many reasons.
Reuters recently covered that Meta will be investing around $600bn in the US via AI infrastructure in the next three years. This includes jobs and data centers, as well as other auxiliary infrastructure needed to grow their division.
This has been misconstrued by a lot of media giants. Some think that Meta is raising or investing $600bn in direct cash. No, this is capex.
Meta does not have $600bn. What they are instead promising is, through their initiatives, to create a system that injects that value of that amount into the US economy.
The key here is that through relatively small investments into its own AI projects, Meta will create economic incentives worth $600bn. But the question is: can they make do on their promise?
The AI bubble.
Yes, let’s talk about the AI bubble. The circular economy has been haunting the world for quite some time. The top AI companies have been under fire for allegedly moving money within their own ranks.
And the fear of the AI bubble rises among investors and stakeholders- including employees. Then there’s the doomsayers, scientists among them, warning of the emergence of superintelligence.
They make it sound like science fiction, but a growing school of thought believes not. This change in technology doesn’t just herald a change in our economic systems but also the way of life of many communities.
It is a disruption on a scale not known to our economies.
Based on these fears, apprehensions, and misinformation, do organizations know what they are doing with this tech?
Let’s hope that they do because the alternative is a scary one.
