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With tech stocks in a frenzy, the AI party is still picking up steam

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    • A screen tracks Nvidia's stock price as a trader works on the floor at the New York Stock Exchange. Nvidia is already worth as much as the entire Chinese stock market.
    • A screen tracks Nvidia's stock price as a trader works on the floor at the New York Stock Exchange. Nvidia is already worth as much as the entire Chinese stock market. PHOTO: REUTERS

    DeeperDive is a beta AI feature. Refer to full articles for the facts.

    Rob Curran

    Published Mon, Feb 12, 2024 · 04:00 PM

    THE artificial intelligence (AI) bubble is already one of the biggest speculative events in human history, but it looks like it’s just getting started.

    AI is a transformative technology, and the advances have been so rapid that a machine could almost certainly write this very article, perhaps even better than any journalist out there.

    But AI is not advancing in increments of 5 per cent a day, as AI-enabling chipmaker Nvidia is on the stock market. Last week, the company’s market cap reached US$1.7 trillion – the same as all Chinese companies listed on the Hong Kong Stock Exchange.

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