AI Earnings:
Regarding earnings, I feel the current stock prices already reflect expectations of sustained profit growth over the next five years—or even accelerating growth. While some companies appear overvalued, others could be considered undervalued if they continue delivering strong growth. In my view, the key risk lies in potential deceleration or deterioration in growth—particularly since I believe some AI-related stocks are already pricing in a threefold increase in share price over five years.
Selling shovels during a gold rush:
Micron and similar companies are earning profits, but it feels as though AI infrastructure investors (like ChatGPT, etc.) are effectively taking losses. Micron’s profits depend heavily on investment from AI companies, and there’s a possibility this growth (investment) could stall due to worsening AI profitability or hitting limits in AI training capabilities.
Investment that enriches the world vs. monopolization:
In reality, how significantly do capabilities differ—and how much are they improving—among ChatGPT, Bing AI, Google AI, and others? From my perspective, their capabilities are broadly similar, and I don’t perceive substantial progress. Comparing various AIs leads me to believe achieving market dominance in AI will be difficult.
AI Profitability and Monopoly Profits:
AI certainly holds potential. However, I wouldn’t go so far as to say its profitability is extraordinarily high...

Break above 1,200