> Is it really a bubble about to burst when literally everyone is talking about AI being in a bubble and maybe bursting soon?

Yes, it is even one of necessary components. Everybody is twitchy afraid of the pop, but immediate returns are too tempting so they keep money in. The bubble pops when something happens and they all start to panicking at the same time. They all need to be sufficiently stressed for that mass run to happen.

So after the bubble pops, do you think the AI market will still be bigger in November 2025?

In other words, do you think we're in 1995 of the dotcom or 2000?