I don't know how to make sense of this level of investment. I feel that I lack the proper conceptual framework to make sense of the purchasing power of half a trillion USD in this context.
Maybe your calibration isn't poor. Maybe they really are all wrong but there's a tendency here to these these people behind the scenes are all charlatans, fueling hype without equal substance hoping to make a quick buck before it all comes crashing down, but i don't think that's true at all. I think these people really genuinely believe they're going to get there. And if you genuinely think that, them this kind of investment isn't so crazy.
Are there computing and cryptography problems that the infrastructure could be (publicly or quietly) reallocated to address if the United States found itself in a conflict? Any cryptographers here have a thought on whether hundreds of thousands of GPUs turned on a single cryptographic key would yield any value?