Rudi: It’s not a bubble, AI’s next winners, and what investors are overlooking

As artificial intelligence spending reaches unprecedented levels, venture capitalists and tech executives are increasingly confident this is no bubble—but they're divided sharply on which companies will actually survive the winnowing, and most investors appear to be overlooking a critical shift in where real profits are being generated. The consensus is fracturing over whether AI's biggest payoffs will go to the companies building the foundational models or the thousands of startups trying to build businesses on top of them, a miscalculation that could reshape Silicon Valley's power structure within years.

Livewire Markets·Aug 4