I'm no AI apologist, but for one, this is how investments, particularly speculative investments, work. They're investing money now in the _hopes_ of a future return. It's pretty early days still. Secondly, of _course_ the huge AI players are doing everything they can to overpromise and convince corporations to throw cash at them to keep the party going.

I think the real problem is, it's just a bit too early, but every CEO out there dreams of being lauded for their visionary take on AI, and nobody wants to miss the bus. It's high-leverage tech, so if it (some day) does what it's supposed to do, and you miss making the investment at the right time, you're done.

It is rare that a third of the capital in the US stock market (by some recent estimates) is going for essentially the same speculative bet, though.