I guess I can say: I. Don’t. Know. Either.
Except. I’ll crudely refer to all these previous “bubbles” as large scale versions of the old “pump and dump” stock scams. I see AI as a “pump” that might have missed their “dump” offramp. In the last phase of the scam, stocks are usually sold to / bid up by small investors. That hasn’t happened yet, except for Elon Musk and SpaceX which might have had the right model and the right timing. Of course, Nvidia is already public and widely held which is the complication the article mentions.
I guess another possibility is a situation like the 2008 subprime mortgage crisis where the holders of the debt are declared “too big to fail” and a government bailout happens.
Anyway a good read from A Wealth of Common Sense.
