AI

AI bubble still offers substantial long-side opportunity, although its eventual peak could be followed by a secular bear market lasting years or decades.

AI may be in a bubble, but the infrastructure build-out can still offer substantial opportunity while technical process identifies eventual trend shifts.

AI remains supported by an expanding compute build that requires substantially more chips, making broad short positions against the theme a mistake.

AI capital spending remains a boom that reinforces economic resilience alongside strong consumer spending and substantial household wealth.

Tech and AI underperformance still appears to reflect healthy market rotation, with broader participation supporting the constructive assessment rather than signaling deterioration.

AI investment and token demand remain largely circular within the ecosystem, leaving the current infrastructure build unlikely to generate short-run returns.

AI infrastructure faces obsolescence risk as cheaper Chinese technologies emerge, leaving excessive investment vulnerable to rapid depreciation and diminished returns.

AI boom is worsening the disconnect between record stock-market levels and the limited improvement most Americans feel in their personal wealth.