Comment by drumhead
1 day ago
First it was Softbank and now its Thiel. Major sales coming from two of the ultimate tech insiders is probably a very good sell signal. Whether or not its the top is another question. Markets as we know can go higher longer than we think, Michael Burry shut down his hedge fund because he may have started shorting too soon.
One of the funds that Meta were working with to finance their spending on AI, Blue Owl, had to stop redemptions on of their private credit funds merging it with another one of their bigger funds, leaving holders facing a 20% haircut. There also seem to be emerging liquidity issues with banks. The money for the AI gravy train might be running out.
didn't softbank sell only to invest more into other ai investments?
Yes, but whether they will remains to be seen. They needed a reason to sell out without it looking like they were selling out at the top.
I thought I read specifically with the intention of putting it into OpenAI directly, but yes they said they wanted to “pursue other ventures in the area of AI”.