Part 2/9:

There is a growing concern that the excitement around AI has outpaced what companies are actually delivering. While the hype has driven valuations sky-high, tangible earnings and profitability have yet to catch up. During the dotcom era, valuations soared based largely on speculative internet companies, culminating in a market bubble burst. Today, the landscape is more diversified, encompassing both traditional manufacturing firms—like Taiwan Semiconductor Manufacturing Company (TSMC), Tokyo Electron, and Nvidia—that produce physical goods, and newer AI software giants.