Of course, I could be wrong. The Naz and S&P index futures are up right now, as are some of the AI plays, in aftermarket trading.

There are always some idiots (and I include hyper trading bots and AI enhanced strategies) who think “Aha! Bargain day!” and who will jump in after a precipitous fall like this. Heck, that exact thing happened in 1929, 2008, and other notorious plunges.

It’s too soon to tell if this is the beginning of the end, the end of the beginning, or just a momentary burp. (My guess is the former, as all those lofty predictions of AI powered data centers every two blocks are suddenly in doubt, and with it the kind of nonsensical financial framing that went into justifying the absurd spending and financing. If you can’t have every data center you ever wanted, maybe your happy projections about your future revenue streams aren’t so realistic either? Just a thought. I believe I’ll send this note to Zuckerberg, who renamed his entire corporation after a product that failed so spectacularly that it’s barely an afterthought in the consumer electronics market.)