Mekel Haunsby @Luma_25000: "Is there an AI bubble? Today..."

Denmark

Is there an AI bubble? Today $NSDQ100 is down, and semiconductors and AI-related stocks are taking a beating. So what really happened? First: $AMD (Advanced Micro Devices Inc). The earnings were strong on the numbers, yet the stock sold off hard. In my view, this was mainly about expectations vs. new information. Many investors were hoping for a clear “AI mega-customer” catalyst, especially related to OpenAI. Important detail: this is not just speculation. AMD and OpenAI have already announced a multi-year strategic partnership to deploy large-scale AMD Instinct GPU capacity, with the first major deployments expected in 2026. So the partnership is real - it’s just still early. These kinds of agreements usually develop in stages: Testing and pilot deployments Initial production and benchmarking Full-scale rollout and long-term contracts Right now, AMD appears to be in stage one. At this phase, volumes are still small, nothing shows up in guidance, and companies rarely talk about it publicly. So the lack of OpenAI news in this earnings report is normal - not negative. However, the market interpreted this silence as disappointment. Combined with some one-off noise around China/export-related items, this led to a sell-off that I see as an overreaction. After earnings, I sold half my $AMD and rotated into $NVDA (NVIDIA Corporation) (I doubled my position). I still like AMD long-term, but I didn’t like the short-term setup once it was clear there was no immediate catalyst. Second: $SMCI (Super Micro Computer, Inc). I sold 60% of my position after earnings. Even with a small gain, I didn’t want to keep such heavy exposure while the overall market trend is negative and selling pressure is high. SMCI can move fast both ways, and in this environment, reducing concentration risk made sense. I reinvested into $MU (Micron Technology, Inc.) and $GOOGL. It will be interesting to see how upcoming tech earnings play out, as sentiment is clearly fragile right now. I kept 100 shares of $SMCI, and those are up 13.51% as of now, so I’m still solid in this company. I expected the post-earnings spike immediately, but it came today instead - and I think it can go higher from here. So... is there an AI bubble? In my firm opinion: NO! If anything, many people still underestimate how big AI is going to be and how much it will change society, both for better and for worse. Not financial advice - purely educational commentary on how I’m thinking about positioning and risk in a volatile market.