Analysis: No returns from transactions in the AI field for three months, only an increase in DRAM prices

Jurrien Timmer, Global Macro Director at Fidelity Investments, stated on platform X that trading in the AI sector has been in a "dead money" state for over three months, with the token spending and GPU rental rates he tracks remaining flat or declining, while only memory (DRAM) prices continue to rise.

Timmer believes that AI will change life in the long term and may unleash a productivity miracle, raising the non-inflationary speed limit of the economy to a level sufficient to sustain global debt. However, before that, the current construction is inflationary, and the returns on the trillions of dollars invested in computing power remain uncertain, with corporate equity and debt capital demand growing at a rate of $3.3 trillion.