NVIDIA Isn't Enron - So What Is It?
We recorded 10 claims from this post. 10 can’t be checked. 1 more is held. Read the post at its source.
Claims from this post (10)
In the order they appear in the post. Each quotation is the speaker’s words in this post. A label such as “Supported” or “Can’t be checked” is the claim’s current assessment; its page has the evidence and the reasons.
Assessment: Can’t be checkedSaid
Forecast
“And yes, while I believe that one day this will all be seen as one of the most egregious wastes of capital of all time, for the time being, Jensen Huang may be one of the most successful salespeople in business history.”
Our reading: The generative AI buildout will one day be seen as one of the most egregious wastes of capital of all time.
No horizon
Qualifier: one day
Assessment: Can’t be checkedSaid
Observation
“Nobody seriously thought that NVIDIA was like Enron before (though JustDario, who has been questioning its accounting practices for years, is a little suspicious), because Enron was one of the largest criminal enterprises in history, and NVIDIA is at worst, I believe, a big, dodgy entity that is doing whatever it can to survive.”
Our reading: NVIDIA is at worst a big, dodgy entity doing whatever it can to survive, not a criminal enterprise like Enron.
No horizon
Assessment: Can’t be checkedSaid
Observation
“In fact, before NVIDIA put out a letter saying how it was nothing like Enron I would have staunchly defended the company against the Enron allegations, because I truly do not think NVIDIA is committing fraud.”
Our reading: Zitron truly does not think NVIDIA is committing fraud.
No horizon
Qualifier: I truly do not think
Assessment: Can’t be checkedSaid
Observation
“More than likely NVIDIA is doing relatively boring vendor financing stuff and getting people to pay them on 50-60 day time scales — probably net 60, and, like it said, it gets paid upfront sometimes.”
Our reading: NVIDIA is more than likely doing relatively boring vendor financing with roughly 50-60 day payment terms.
No horizon
Assessment: Can’t be checkedSaid
Observation
“It’s entirely possible that everything NVIDIA is doing is above board. Great! But that doesn’t do anything for the deep pit of dread in my stomach.”
Our reading: It is entirely possible that everything NVIDIA is doing is above board.
No horizon
Assessment: Can’t be checkedSaid
Causal claim
“In simple terms, big tech — Amazon, Google, Microsoft and Meta, but also a number of other companies — no longer has the “next big thing,” and jumped on AI out of an abundance of desperation.”
Our reading: Big tech jumped on AI out of desperation because it had run out of a next big thing.
No horizon
Assessment: Can’t be checkedSaid
Recommendation or value judgment
“CoreWeave made $1.36 billion in revenue (and lost $110 million doing so) in its last quarter — and if that’s indicative of the kind of actual, real demand for AI compute, I think it’s time to start panicking about whether all of this was for nothing.”
Our reading: If CoreWeave's last quarter ($1.36 billion revenue, $110 million loss) is indicative of real demand for AI compute, Zitron thinks it is time to start panicking about whether all of this was for nothing.
No horizon
Only if: if that's indicative of the kind of actual, real demand for AI compute
Assessment: Can’t be checkedSaid
Forecast
“Blackwell does not appear to be “more efficient” in a way that actually makes anybody a profit, and we’re potentially years from seeing these GPUs in operation in data centers at the scale they’re being shipped — so why would anybody be buying more?”
Our reading: Blackwell does not appear to be more efficient in a way that makes anybody a profit, and we are potentially years from seeing Blackwell GPUs in operation in data centers at the scale they are being shipped.
No horizon
Qualifier: does not appear
Assessment: Can’t be checkedSaid
Forecast
“In fact, I’m not even saying it goes tits up. Hell, it might even have another good quarter or two.”
Our reading: NVIDIA might have another good quarter or two.
No horizon
Assessment: Can’t be checkedSaid
Recommendation or value judgment
“Once this pops — and it will pop, because there is simply not enough money to do this forever — there must be a referendum on those that chose to ignore the naked instability of this era, and the endless lies that inflated the AI bubble.”
Our reading: Once the AI bubble pops, there must be a referendum on those who chose to ignore the naked instability of this era and the endless lies that inflated the AI bubble.
No horizon
Qualifier: once this pops
Held from this post (1)
These records did not pass every check, so nothing about them is published. Held is not a finding.