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Is Generative AI A True ‘This Time Is Different’ Moment?
I realize -- better than most I'd wager, given how immersed I stay in the market zeitgeist -- that o
If ChatGPT is the yardstick for measuring the performance of AI then it gets failing grades. I asked ChatGPT a question about Social Security and it gave a very authoritative and wrong response. When I quoted the Social Security statute pointing out that it was wrong it responded by saying, yes, that I was correct and then revised its original answer.
Basically, if you can’t trust the answers it gives what good is it? People are putting wayyyy to much faith in this technology.
Run the Megas through the reverse DCF calculator of your choice. Assume consensus FCF forecasts are correct. Look at the implied terminal, in-perpetuity FCF growth. I see:
MSFT 6.5%
GOOG 4.4%
AAPL 6.7%
AMZN 5.3%
META 7.8%
NVDA 12.6%
TSLA 12.6%