The real test for AI isn't how much capital we're pouring into it—it's whether we're actually seeing productivity gains and economic expansion. Throwing money at innovation only matters if it translates into tangible output, not just higher burn rates.

This is critical for the market to understand. When AI truly drives efficiency and creates new value chains, that's when we see sustainable growth in asset valuations and market fundamentals. But if it's just inflated spending without corresponding output growth, we're looking at a correction risk.

For traders and investors, the key metric to watch: are companies showing real margin improvements and revenue expansion from AI adoption, or just increased capex? That distinction will determine whether this cycle compounds or implodes.