And from the Journal: “‘It is difficult to know exactly how to make money on AI,’ said Mike Ogborne, founder of Ogborne Capital Management, a hedge-fund firm in San Francisco that oversees a position in Nvidia. ‘This could be the first day of a lot more pain.’” “It is difficult to know exactly how to make money in AI” does seem like an essential aspect of the AI trade; we have talked about OpenAI’s claim that “it may be difficult to know what role money will play in a post-[artificial general intelligence] world,” and also about a venture capital bet that the way to make money on AI is by buying up homeowners’ association management companies. But the actual answer turns out to be “build a cheap AI model and short Nvidia.” —Matt Levine, Bloomberg Opinion Money Stuff.
