You don’t understand what a bubble is. How good the technology is is irrelevant. That has nothing to do with an economical bubble. It’s all about massive capital misallocation driven by a frenzy of FOMO, which is specifically the case for AI investments. Economically speaking what is happening is the most obvious bubble possible, it follows everything that would be expected from a bubble where companies are chasing an ill-defined grandiose dream, based on a new technology we don’t understand and has very dubious ROI, selling some vague future utopia, allocating massive amount of capital to build infrastructure dedicated to a very early versions of that technology.
As things mature there will be a correction, ie the bubble will pop.
As things mature there will be a correction, ie the bubble will pop.
I would recommend to read « Boom and Bust: a global history of financial bubbles » https://pure.qub.ac.uk/en/publications/boom-and-bust-a-globa...