I don't think that's necessarily the full story. I suspect the mag 7 are going hard in AI as a strategic hedge: they can afford to dump huge amounts of resources into it even if it doesn't pan out; but they can't afford to sit it out in the event that it *does* pan out. It wouldn't surprise me if a ton of mag 7 c-suite types think AI is all hyped bullshit, but that they have to go along for the ride so that their stock goes up with this hype wave. Then if it crashes it crashes and they have their tax people work the magic.
I'm fully ported into January calls:
QQQ 600 c.
TSM 300 c.
GLD 385 c.
Trying to be only moderately stupid. What do you think, reasonable or should I bail before I'm cooked?