At the same time, major cloud and infrastructure players are doubling down. A reported US$38 billion deal with Amazon Web Services and expanded partnerships with Oracle underscore how the AI ecosystem is evolving into an industrial-scale network of chips, servers, and energy grids.
Chipmakers like TSMC often seen as the backbone of this boom have shown strong year-on-year growth, though recent months point to a more sustainable pace. Some investors are wondering: is this the early sign of an AI “cool-off,” or just a pause before the next phase of growth?
For comparison, the dot-com era in the late 1990s saw a 200%+ rally in the Nasdaq before the bubble burst. But unlike then, today’s AI wave is driven by products already in the market from ChatGPT and Microsoft Copilot to Google Gemini and Anthropic’s Claude each generating real productivity gains and revenue streams.
Ardentis Capital’s View:
This is not a bubble, but a transition from hype to monetization. Businesses are starting to see measurable returns from AI adoption through automation, analytics, and software integration. The sector is maturing, not deflating.
All eyes now turn to NVIDIA’s upcoming earnings, which will be the clearest signal yet of how deep and durable this AI-driven growth really is.
Disclaimer:
This post reflects Ardentis Capital’s research and market observations. It is not financial advice. Investors should always conduct their own due diligence before making investment decisions.
