It's the same reason for investing in every net-loss high-valuation tech startup of the past decade. They're hoping they'll magically turn into Google, Apple, Netflix, or some other wealthy tech company. But they forget that Google owns the ad market, Apple owns the high-end/lifestyle computer market, and Netflix owns tv/movie habit analytics.

Investors in AI just don't realize AI is a commodity. The AI companies' lies aren't helping (we will not reach AGI in our lifetimes). The bubble will burst if investors figure this out before they successfully pivot (and they're trying damn hard to pivot).