This chart puts the AI trade in brutal perspective.
Every square = 3.3 million people. The whole grid = 8.2 billion humans.
82% grey = never touched generative AI. 17.8% green = tried it once. 0.6% = paying users. 0.06% = ever used an AI agent.
If you're debating AI stocks online, you're in that 0.06%. So is everyone you follow. It feels crowded because you're only seeing the tiny slice of people actually using this tech.
Meanwhile, $MSFT $GOOGL $NVDA $META are being valued on revenue from that thin colored strip at the bottom. 82% of the world hasn't spent a dollar yet.
And people ask if the AI trade is over?
This is adoption inning one. The monetization curve hasn't even started. If infrastructure spending holds and these models keep improving, the TAM expansion is staggering. The risk isn't overcrowding—it's underestimating how early we still are.
Watch capex, watch usage growth, watch enterprise adoption. The crowd isn't wrong. The crowd just showed up before the crowd.
Every square = 3.3 million people. The whole grid = 8.2 billion humans.
82% grey = never touched generative AI. 17.8% green = tried it once. 0.6% = paying users. 0.06% = ever used an AI agent.
If you're debating AI stocks online, you're in that 0.06%. So is everyone you follow. It feels crowded because you're only seeing the tiny slice of people actually using this tech.
Meanwhile, $MSFT $GOOGL $NVDA $META are being valued on revenue from that thin colored strip at the bottom. 82% of the world hasn't spent a dollar yet.
And people ask if the AI trade is over?
This is adoption inning one. The monetization curve hasn't even started. If infrastructure spending holds and these models keep improving, the TAM expansion is staggering. The risk isn't overcrowding—it's underestimating how early we still are.
Watch capex, watch usage growth, watch enterprise adoption. The crowd isn't wrong. The crowd just showed up before the crowd.