I don’t think we’re in an AI bubble. People always point to the dot-com bubble as an example. Though I wasn’t conscious at this point of my life, my understanding is that speculation was wild for trivial things (pets.com etc.).
While there is wild speculation on the order of hundreds of billions or trillions of dollars, there is something useful here. Unfortunately, this utility is best leveraged by large companies looking to generate more slop (code, media, etc.)