AI is not the reason for massive layoffs

CFOs are being asked to fire people to pay for GPUs. But the bill they are really cutting for has not arrived yet.

In January, AI was blamed for roughly 7% of announced US job cuts.

By May, about 40%.

The technology did not get 5 times better in four months. You already know that. What you may not know is where the money actually went.

It went to GPUs. And the people cut were the financing.

And when a stated reason moves that fast while the underlying thing barely move…