Is The AI Bubble Bursting? Wolf Richter's WTF Charts

Is it gold's turn now?

Artificial intelligence, which a few years ago existed only in science fiction (check out William Gibson’s Neuromancer), has morphed into an epic stock bubble. Nvidia, maker of the leading AI microchips, saw its market cap surge from $200 billion in 2019 to $2 trillion in 2023. I haven’t actually checked, but that might be the fastest episode of paper w…