NVDA, GOOGL, and AMZN Are the Dot-Com Boom — But With Actual Money This Time
Social sentiment is buzzing around AI infrastructure plays as IBD drops the 'we're not in a bubble' argument and The Economist drops the 'yes we kind of are' counter-punch
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Investor's Business Daily fired the shot heard 'round the fintech Discord: the current AI-driven NASDAQ run — up roughly 11-12% year-to-date — is NOT your uncle's dot-com bubble. The key difference? $NVDA, $GOOGL, and $AMZN are printing gigantic profits, while Pets.com was printing business cards. IBD argues we're still early innings, with AI barely touching medicine, biotech, and workforce productivity — which is either very bullish or the plot of a dystopian Netflix series, depending on your vibe.
Meanwhile, The Economist is playing the skeptic with back-to-back data center takedowns. Ireland's data centers now consume 30% of national electricity, up from just 5% in 2015. Maine voted to ban new hyperscale centers. Utah is staring down a project twice the size of Manhattan demanding 9 gigawatts. That's not a server rack — that's a small country. The backlash is real, and it creates regulatory overhang for anyone building the physical AI stack.
Reddit and X are still firmly in the 'NVDA to the moon' camp, but the smart money is quietly watching whether the infrastructure opposition movement becomes the next ESG — an annoying headwind that compounds over years, not quarters. Either way, if AI hasn't hit medicine yet, somebody's going to get very rich when it does.