AI is people looking at EV hype and saying - I'll 100x it.

It has all the same components, just on much higher scale:

1. Billionaire con-man convincing large part of market and industry (Altman in AI vs Musk in EV) that new tech will take over in few years.

2. Insane valuations not supported by an actual ROI.

3. Very interesting and amazing underlying technology.

4. Governments jumping on the hype and enabling it.

The valuations are based on value, not revenue.