Some observers, including analysts for Goldman Sachs, say that the growth of AI since the height of the pandemic is now proving to be a bubble, like dotcom stocks in the late Clinton years or mortgage based derivatives in 2006-07. What is a bubble? By standard definition it is a growth in value of an asset that occurs after the speculative demand has surpassed the operational demand for same. If I buy X as a speculator at a price higher than the operational value of X can support I may be willing to make an operationally foolish deal in the expectation (on the speculation) that there will be a "greater fool" to whom I can then sell it. In such a situation, sooner or later the biggest fools ARE the ones who are holding X. What happens to its value then you can fill in for yourself. Clearly there is money still entering the field. The Peoples Republic of China is incubating a group of companies that it proudly calls the "little AI dragons," with seed money of...