AI 버블이 더 커질 이유라는데..

First, there is high certainty regarding spending on AI infrastructure this year and next year, which is a win for companies involved in chip design and manufacturing, as well as the producers of semiconductor capital equipment. 

Second, the stock market is rewarding Nvidia’s large customers for investing in AI chips, a positive for the cloud-service providers.

Third, the cloud-service companies have vast cash holdings of $108 billion in total, giving them ample flexibility to keep investing in AI.

And finally, the AI names are trading at an average of 28 times consensus expectations for their 2025 earnings, a relatively reasonable level compared with those seen during the dot.com bubble, he said.