I don't think it's a bubble.

Thiel sold Palantir which is ridiculously overrated ( 1740.10 pe ).

Additionally, NVIDIA is going to get some competition for AMD. Or even Broadcom ( see TPU's from Alphabet)

He bought Microsoft, which has both AMD and NVIDIA for inference.

His sales aren't about selling AI. Just some bets cashing out.

Microsoft, Amazon, ... All can't build infrastructure quickly enough and they even admit in quarterly earnings that it's a bottleneck for now.

And they all grew a lot ( 20-40% )