Is the AI bubble about to burst? Every day that the stock prices of semiconductor champion Nvidia and the so-called “Fab Five” tech giants (Microsoft, Apple, Alphabet, Amazon, and Meta) fail to regain their mid-year peaks, more people ask that question. It would not be the first time in financial history that the hype around a new technology led investors to drive up the value of the companies selling it to unsustainable heights—and then get cold feet.