Quen is mentioned as a company with a frontier model whose performance is converging with others.
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The AI Boom Is Creating a Financial System We Haven't Seen Before (Paul Kedrosky Explains)
Aug 28, 2026
Paul Kedrosky discusses the exponential growth and scale of AI, comparing it to historical financial bubbles. He highlights the misunderstanding of these exponentials by both bulls and bears, and points out the significant energy and emissions consequences of AI's rapid expansion, particularly the reliance on behind-the-meter power like natural gas for data centers. Kedrosky suggests that AI itself will be needed to solve the problems it creates, especially concerning climate.
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Nike is mentioned as an example of a company whose stock fell 75% from its peak due to an extremely high PE ratio of 70, illustrating how high valuations make failure overdetermined.
Oracle is mentioned as a company whose historical shift from buybacks to share issuance and dilution is part of a broader trend.
The creator mentions Nvidia's GPUs (A100) as an example of hoarding and potential oversupply in the AI boom.
The UK is mentioned as a flawed credit compared to data center loans backed by hyperscalers.
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