An AI Bust May Not Be All Bad News

The boom makes it hard for competitors to step away from a treadmill of continuous acceleration.

Nvidia CEO Jensen Huang talks to a robot during a keynote session at the SAP Center in San Jose, California, on March 18. December 5, 2025, 12:01 AM Comment icon View Comments ( )

Last month, Nvidia—the maker of the go-to chips for artificial intelligence (AI) developers—crossed $5 trillion in market capitalization and followed up with a strong earnings report . Yet nagging fears of an AI bust have not gone away. The fundamentals of the AI industry—unprecedented levels of investment with little evidence of revenues in the foreseeable future—remain. By November’s end, even Nvidia’s stock fell despite strong earnings, reflecting that the marke

See Full Page