The thing about the AI bubble is like, the stock market as it stands is totally divorced from concepts like "long-term viability." None of these market evaluations are rooted in reality. If they were, the market would reflect the fact generative AI has never been profitable and has no path to profitability. Generative AI will not "keep getting better" because no amount of money can override a machine's basic technical limitations ("My baby Timmy was still learning to crawl a few months back, and now he's walking! At this rate, soon he'll be able to fly!"). You cannot "solve" AI hallucinations. NVIDIA GPUs will not suddenly become compatible with commercial devices. The cost of inference will never go down enough to make generative AI affordable for the general public.
And data centers are being canceled en masse. For the few data centers that do claw their way to completion, their GPUs will start depreciating in value the second they're plugged in (and will need to be replaced next year anyway once NVIDIA upgrades from Blackwell chips to Vera Rubin). The only reason we can access LLMs like ChatGPT right now is because they're being subsidized to the tune of TENS OF BILLIONS of dollars by private companies. Loss-making businesses like OpenAI and Anthropic depend on "funding rounds" to stay afloatâand sooner or later even the government will run out of money to burn on this bullshit (Big Tech needs over TWO TRILLION dollars to meet demand by 2030). The market will not reflect that reality because the market is not based in reality. The market operates on vibes. Due diligence will actively lose you money in this environment. Everybody's just piling into whatever's already going up, with the intent of selling before the music stops. And when the AI bubble pops, it's looking less like it'll be a product of investors pulling out, or the Microsofts and Disneys of the world reneging on their deals. It's looking like it'll pop when the blue collar workers on the ground say, "No, I'm not building the rest of your data center campus in exchange for shares in your private company. Pay us right now in real money or we're leaving with only half the cement poured."





















