Opinion: In the next 5 to 10 years, half of the S&P 500 companies may completely lose their investment value, and there is no such thing as an AI bubble.

BlockBeats news, July 15: Jordi Visser, Head of AI Macroeconomic Link Research at 22V Research, issued a warning: the “instant competition” brought by AI is shattering traditional companies’ moats at an astonishing speed. In the next 5 to 10 years, up to half of the companies in the S&P 500 may completely lose investment value, becoming “irrelevant” assets like today’s Ford. Taking the current predicament facing Salesforce and Adobe as examples, all enterprise valuations are built on the assumption that their moats can hold up for how long. But AI creates competition out of thin air and accelerates its evolution, and the barriers of many listed companies could collapse overnight.

At the same time, Jordi strongly refuted today’s market view of an “AI bubble.” Samsung is expected to reach profits of $217B this year, exceeding the total profits accumulated over the previous 40 years; Nvidia’s valuation trades at a ten-year low, and the high growth has fully absorbed the premium valuation. Computing power demand is fundamentally different from oil demand: the former surges exponentially, while the latter grows only linearly. The remaining performance obligations of the hyperscale cloud giants are as high as $2 trillion, and none of them has spare capacity. And the “AI mid-term growth slowdown” that started at the end of May has already ended. Once consumer AI agents achieve breakthroughs later this year, enabling users to freely interact with dynamic workflow through voice, their computing consumption will be 20 to 30 times the current level. After that, fully autonomous driving and humanoid robots will bring an endless flood of computing demand.

Jordi further pointed out that traditional macro analysis frameworks have completely failed. 99.9% of macro strategists do not actually use AI, and only use it to polish emails, which fundamentally cannot help them understand AI’s disruptive power—“If you don’t use it, you can’t possibly understand it: it has an IQ above 140, a polymath that breaks through disciplinary barriers.”

On the allocation level, Jordi advised that ordinary investors allocate about 10% of their funds to leading digital assets and AI frontier themes; younger investors can go up to 20%. Specifically, he is strongly bullish on Nvidia, Mavirel Technologies, Eli Lilly, as well as data center hard infrastructure such as Caterpillar and Modine Manufacturing.