Welp, it's all kicking off this week in AI!
Nvidia is going all squishy over a planned $100Bn investment in OpenAI:
https://www.cnbc.com/2026/02/02/nvidia-stock-price-openai-funding.html
Microsoft Azure income shrank 2% despite huge investment by MSFT and knocked a $375Bn hole in their finances: MSFT shares down 10% in 3 days:
https://www.fool.com/investing/2026/02/02/shares-down-10-earnings-call-microsoft-stock/
… Is the AI bubble over?
I asked ChatGPT:
Bottom line:
Yes, in the last 48 hours there are clear signs of stress across AI-linked stocks, rising skepticism, and valuation readjustment — which feels bubble-ish. But no, there’s not yet decisive evidence that the entire AI boom is bursting. It’s more like a market correction and repricing, with risk shifting from hype toward real earnings and competition.
If you want, I can break this down by specific companies, sectors (chips vs. software vs. services), or what this might mean for investing or the broader economy.
Bubble-ish….like ChatGPT is a 45 yo guy from Brooklyn.
And then it requested access to my microphone.
Maybe the day will come when it doesn’t ask.
Charlie Stross
James