The weekend recap is increasingly giving me a sense that:

This round of the AI market,
is no longer just the tech bull market.
It’s more like:
Global capital is re-pricing “future productivity.”
From GPUs, storage, and electricity,
to robots, autonomous driving, and nuclear fusion.
Almost all capital,
is looking for the next “Nvidia.”
But the cycle’s biggest rule has never changed:
When everyone starts to believe
“it’s only going up,”
risk often begins to build up, little by little.