Our Post-Truth, Post-Trust World Authored by Charles Hugh Smith via OfTwoMinds blog, A system that comes to depend on synthetic signaling for its "information" is doomed to Model Collapse, as its signaling has completely detached from the real world. That we inhabit a post-truth world seems to accepted wisdom. But that's only half of it. We also live in a post-trust world. In a post-truth world, e...
Our Post-Truth, Post-Trust World Authored by Charles Hugh Smith via OfTwoMinds blog, A system that comes to depend on synthetic signaling for its "information" is doomed to Model Collapse, as its signaling has completely detached from the real world. That we inhabit a post-truth world seems to accepted wisdom. But that's only half of it. We also live in a post-trust world. In a post-truth world, everything is shaped by the implicit goals of the entity claiming to state the "truth," as the entire point of claiming to state the "truth" is to persuade the target populace to agree to something favorable to the issuer of the claimed "truth." In other words, the "truth" as something that has no intentional spin of self-interest no longer exists. What is passed off as "truth" is spin intended / designed to serve the interests of those doing the spinning. This is the definition of propaganda and marketing, which are pure expressions of self-interest, and they've been around since the dawn of civilization, as persuading others to do what serves your private interests is much lower cost / more profitable than having to modify their behaviors with force. The first step in the con of propaganda and marketing is to win the trust of the mark. This is a fascinating process, as some people are willing believers and others are skeptical, and so the trust campaign must speak to both the skeptics and those primed to embrace the message for reasons that have less to do with the entity issuing the message and more to do with their internal beliefs. The trick with skeptics is to present persuasive evidence--the "facts." These can be first-person accounts, scientific studies, or something presented as self-evident. The con artist presents the facts as if they are objective and the mark is invited to "decide for yourself:" the con artist claims he has no intent to persuade. This is humorously illustrated in Melville's classic novel The Confidence-Man . The rise of the collection of data an...
Pacific Investment Management Co. is looking to sell a portion of the $14 billion of debt financing it’s providing for a massive Oracle Corp. data center in Michigan, according to people with knowledge of the matter. The campus in Saline Township will be backed by $16.3 billion of financing, roughly 15% of which is set to come in the form of an equity investment, according to the people, who asked...
Pacific Investment Management Co. is looking to sell a portion of the $14 billion of debt financing it’s providing for a massive Oracle Corp. data center in Michigan, according to people with knowledge of the matter. The campus in Saline Township will be backed by $16.3 billion of financing, roughly 15% of which is set to come in the form of an equity investment, according to the people, who asked not to be named discussing non-public information, as well as terms of the proposed transaction seen by Bloomberg News. The remainder will be financed with bonds issued by a special purpose vehicle. Pimco is anchoring the financing, which is being led by Bank of America Corp. and is expected to close on April 17, the terms show. Blackstone is planning to contribute about $2 billion of equity, Bloomberg previously reported. Spokespeople for Pimco and Bank of America declined to comment, while a representative for Blackstone did not immediately respond to requests for comment. Oracle said it’s “proud of the rapid progress that’s been made both in financing and developing our data center in Saline Township.” Read more: Pimco Said to Weigh $14 Billion Debt Deal for Oracle Data Center The bonds have a 19.5-year maturity and a 14-year weighted average life, a measure of how long it will take for the principal of the amortizing debt to be repaid, the documents show. For six years, the borrower will pay back interest only, with the bond amortized over the following 13 years. The securities are structured in a so-called 144A format, meaning they’re sold privately and only to large, institutional investors. Pimco is still gauging investor interest in the deal and the terms being offered could change, according to the people familiar with the matter. For now, to entice investors to buy in, the bonds are poised to offer potential backers a little more than one percentage point over the yield of Oracle’s existing debt that is due in April 2040 on the day they commit to the financing. O...
(Bloomberg) -- Pacific Investment Management Co. is looking to sell a portion of the $14 billion of debt financing it’s providing for a massive Oracle Corp. data center in Michigan, according to people with knowledge of the matter. The campus in Saline Township will be backed by $16.3 billion of financing, roughly 15% of which is set to come in the form of an equity investment, according to the pe...
(Bloomberg) -- Pacific Investment Management Co. is looking to sell a portion of the $14 billion of debt financing it’s providing for a massive Oracle Corp. data center in Michigan, according to people with knowledge of the matter. The campus in Saline Township will be backed by $16.3 billion of financing, roughly 15% of which is set to come in the form of an equity investment, according to the people, who asked not to be named discussing non-public information, as well as terms of the proposed
Developing artificial intelligence (AI) requires substantial computing power, which is why it typically occurs in large, centralized data centers. This infrastructure includes thousands of specialized chips called graphics processing units (GPUs) specifically designed for data-intensive AI workloads. High-bandwidth memory (HBM) is also a critical component in the hardware stack because it stores d...
Developing artificial intelligence (AI) requires substantial computing power, which is why it typically occurs in large, centralized data centers. This infrastructure includes thousands of specialized chips called graphics processing units (GPUs) specifically designed for data-intensive AI workloads. High-bandwidth memory (HBM) is also a critical component in the hardware stack because it stores data in a ready state until GPUs are ready to process it. A low memory capacity can cause bottlenecks and force GPUs to pause their workloads while they wait to receive more data, whereas a high capacity keeps data flowing smoothly to unlock maximum processing speeds. Nvidia (NASDAQ: NVDA) makes the world's best GPUs, while Micron Technology (NASDAQ: MU) makes some of the highest-capacity HBM. Both companies have soared in value thanks to the AI boom, but which one has more upside potential from here? Continue reading
Super Micro Computer (NASDAQ: SMCI) stock plummeted in March after one of its co-founders and two other people connected to the company were hit with smuggling charges . The California-based server specialist's shares fell 29.7% in the month, according to data from S&P Global Market Intelligence . Meanwhile, the S&P 500 's level declined 5.1%, and the Nasdaq Composite 's level declined 4.8%. Super...
Super Micro Computer (NASDAQ: SMCI) stock plummeted in March after one of its co-founders and two other people connected to the company were hit with smuggling charges . The California-based server specialist's shares fell 29.7% in the month, according to data from S&P Global Market Intelligence . Meanwhile, the S&P 500 's level declined 5.1%, and the Nasdaq Composite 's level declined 4.8%. Supermicro saw a massive valuation decline last month following news that the U.S. Department of Justice had brought charges against people affiliated with the company for allegedly smuggling artificial intelligence ( AI ) chips to Chinese customers that had been banned from export. As of this writing, Supermicro stock is down roughly 61.5% from its 52-week high. Image source: Getty Images. Continue reading
Government facilities in Singapore will take steps to reduce electricity consumption to boost the nation’s energy resilience as the conflict in the Middle East tightens global energy supplies. Immediate measures include setting the air-conditioner at 25C or higher, managing operating times for air-conditioning, lighting and lifts and unplugging or turning off non-essential equipment when not in us...
Government facilities in Singapore will take steps to reduce electricity consumption to boost the nation’s energy resilience as the conflict in the Middle East tightens global energy supplies. Immediate measures include setting the air-conditioner at 25C or higher, managing operating times for air-conditioning, lighting and lifts and unplugging or turning off non-essential equipment when not in use, the National Environment Agency said in a statement on Wednesday. Singapore is the latest addition to a slew of countries around the world taking measures to ensure a steady supply of energy and save energy. South Korea is weighing widening driving restrictions to cushion the impact of the Iran war, while government offices in the Philippines shortened their work week to save energy, with agencies ordered to cut use of electricity and fuel costs by 10% to 20%. Read More: Singapore Unveils S$1 Billion Support, Flags Energy Supply Risk Singapore had earlier warned of costlier power bills in the coming months as fuel prices are expected to remain elevated in the foreseeable future due to the extensive disruption to oil and natural gas production and shipping in the Middle East.
Another Anfield miracle in the second leg will be talked up, but the gulf in class between the two sides was undeniable These are strange times for Liverpool Football Club, still, and until anyone specifically says otherwise, the champions of England. It is a mark of where the team is that on an oddly tension-free night in Paris there were reasons to be pleased, but also not to be pleased about be...
Another Anfield miracle in the second leg will be talked up, but the gulf in class between the two sides was undeniable These are strange times for Liverpool Football Club, still, and until anyone specifically says otherwise, the champions of England. It is a mark of where the team is that on an oddly tension-free night in Paris there were reasons to be pleased, but also not to be pleased about being pleased. Pleased that Liverpool’s players didn’t give up or stop trying. So that’s a tick. Pleased that they only lost 2-0 against a Paris Saint-Germain team who were able to approach this first leg carelessly, to showboat a little, to approach the scoring of a goal in the style of a temperamental high-end Parisian pastry chef, always trying to create the perfect deconstructed mille-feuille tour de vanille infinite , when all you really need is a biscuit. Continue reading...