IMO, those IPOs are going to result in a recession because once the market realizes LLMs are nothing more than unsubstantiated gains, the bottom will fall out just like it did on dotcom.

Watch, they’ll launch to great fanfare, then the prices of AI credits will go up.

Companies will complain so they’ll release something ‘revolutionary’ that costs a little less, but ultimately costs the AI companies more.

Once the new LLM loses its fanfare, they will be forced to jack prices up to cover costs and ultimately fail.

It’s a tale as old as the markets.