⚠️ The Great Rationalization of the AI Bubble

Analysis of the current artificial intelligence market, arguing that while the technology itself is revolutionary, its financial mechanisms and valuation multiples exhibit clear signs of a speculative bubble. The report details the unprecedented capital expenditure (CapEx) by major "hyperscaler" tech companies, noting that this investment is driving significant, yet potentially "hollow," GDP growth. Furthermore, the analysis highlights severe physical and geopolitical constraints on sustained...