> Well, if no body can say when it will pop, then can we really say it's a bubble and it's overvalued?

Well, given the literal trillions being spent, the only ways this pays off are:

1. AI replaces a non-trivial fraction of human employees.

2. Someone builds a Culture Mind, and humans become (hopefully) pampered pets of AIs we don't understand. Seems unlikely, but it would arguably count as a payoff even if it made money meaningless.

Or maybe the AIs don't want pets, and you get SkyNet. Which definitely doesn't care about paying off anyone's investments.

When you look at various news articles about investors, yeah, there are definitely a lot of rich people who think that they're going to automate all human labor or just bring about the Singularity. Possibly with them in charge of the rest of us. If you don't make these kinds of wild assumptions, then yeah, this is looking like one of the biggest bubbles ever.

Can we see some actual numbers, projections, models instead of vibes?