No it's not, because nobody knows how big the AI bubble is. Or even if it actually exists at all. Because the concept behind a bubble is that it's inflated ove

No it's not, because nobody knows how big the AI bubble is. Or even if it actually exists at all. Because the concept behind a bubble is that it's inflated over the true value due to speculation or non-speculative overinvestment. But there's still a true value. So you can say AI valuations are whatever multiple of previous whatevers, but you can't say the AI bubble is. Because if there's an AI bubble (and there probably is, but nobody knows), nobody knows how big the bubble part is versus that solid part. Obviously, if anyone did, they'd make lots of money by investing accordingly. And of course the reason we can't figure out the bubble size is because nobody knows what the true value of LLM's will be over the coming decade or two. It's hard to know even what the order of magnitude will be. And how much will be captured by existing LLM companies.