๐Ÿค–๐Ÿ“ˆ AI stocks are still running. But I think investors are asking the wrong question.

The question isnโ€™t simply: โ€œIs AI a bubble?โ€

The better question is: Can AI companies turn this massive spending cycle into sustainable profits?

Nvidia recently projected roughly 70% revenue growth for its next fiscal year, while Jensen Huang has said Nvidia expects to sell twice as many chips next year as this year. That tells us one thing clearly: demand for AI compute is still extremely strong.

But thereโ€™s another side of the story.

AI infrastructure requires enormous spending on chips, data centers, power and financing. Today, investors are already becoming more selective around the growing debt needed to fund that expansion.

Thatโ€™s where my view gets interesting:

Iโ€™m bullish on AI as a long-term technology trend โ€” but Iโ€™m not bullish on every stock simply because it has โ€œAIโ€ attached to it.

The next winners may be the companies that prove AI demand can become durable earnings, not just bigger capex.

So Iโ€™m watching two things now:

๐Ÿง  AI demand
๐Ÿ’ฐ The actual return on all that AI spending

AI may not be finished. The easy part may simply be over.

Whatโ€™s your view โ€” are AI stocks entering their next major growth phase, or are expectations getting too far ahead of fundamentals?

#AIStocksWhatNext #AI #Nvidia #AIStocks #Investing
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