If It Looks Like a Bubble, Smells Like a Bubble, It’s Probably a Bubble

The hardest bubbles to spot are never built on fake technology. They are built on real technology, real demand, and then an extra layer of financing that makes everything look bigger, cleaner, and more durable than it really is. That is why the current AI infrastructure boom deserves a more careful reading. NVIDIA’s numbers are undeniably extraordinary:…