I am sure most of you know this. just thought i would share. wow.
https://www.youtube.com/watch?v=NP-qmffUNHQ
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Back during the gold rush days of the 1800's, the folks that made money were the ones who supplied the miners, not the ones who dug the gold out of the ground. Building data centers and renting out the space to the crypto miners is the same concept. There's a huge fortune to be made in having data space, and it will only come to an end when the market for this data space dries up. Right now cloud services and AI are driving that demand.
I’m thinking AI build is cover for crypto mining.
Yep. That's exactly it at Oracle too. They are RIF'ing headcount to raise cash to pay for datacenter buildouts to accommodate future planned/sold demand. Oracle has also taken on massive debt as well because headcount cuts aren't enough. The whole AI thing is a house of cards just like the .com bubble - history is about to repeat itself.