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The ChatGPT Report
The ChatGPT Report

172 - Are we in a Mass AI Psychosis

26 February 2026 12:50 The ChatGPT Report

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My main takeaways

Main Takeaways

  • The "Stargate" Collapse: The $500 billion partnership between OpenAI, SoftBank, and Oracle is being labeled "vaporware." Reports suggest the deal is in shambles due to internal power struggles and a lack of actual liquidity, with SoftBank allegedly scrambling for 90% debt financing.

  • Market Volatility vs. Reality: There is a disconnect between market reactions and product performance. While Anthropic’s claim that Claude can streamline COBOL code caused IBM’s stock to drop 10%, critics argue the public is still in a "demo phase" of awe and hasn't realized the tech often fails to work as advertised.

  • Reliability Concerns: High-profile failures are surfacing, such as Claude reportedly deleting a Meta researcher’s entire Gmail history. This raises alarms as these same models are being positioned to manage critical infrastructure like banking and the IRS.

  • Corporate Espionage: Anthropic has reported "industrial-scale distillation attacks" from Chinese labs (DeepSeek, Moonshot AI, MiniMax), claiming they used over 24,000 fraudulent accounts to "siphon" Claude’s capabilities to train their own models.

  • The "Theranos" Comparison: Critics are drawing parallels between current AI labs and failed startups like Theranos, arguing that the goal of reaching AGI via Large Language Models may be technically impossible, creating a "feedback loop delusion" to sustain venture capital investment.

  • Strategic Shifts: OpenAI is pivoting toward traditional consulting giants (McKinsey, Accenture) to integrate its tech, while the community continues to debate the technical distinctions between generative AI and autonomous agents.

@XFreeze@MrEwanMorrison@sterlingcrispin@dwlz

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