The debate over whether AI is in a bubble heated up noticeably. Skeptics point to the huge gap between capital expenditure and current revenue; supporters argue infrastructure spending naturally precedes revenue, as it has historically.
Key facts
- Huge gap between capex and current revenue
- Skeptics and supporters sharply divided
- Depreciation schedules and hardware lifespan contested
- Application-side revenue growth carries high expectations
Big Share take
The test for a bubble is not how much was spent but how long the resulting assets stay useful. If cards bought three years ago still run at full load, it was not waste; if they sit idle, that is a different story.
Compiled from public reports; opinions are for reference only.