Giant chip maker Nvidia has shocked the world with a dazzling 62% rise in revenues, reaching $57 billion in the quarter ending October 2025. And the company says sales will shoot up to $65 billion next quarter. Just when some doubted if artificial intelligence (AI) hype would last, Nvidia’s strong numbers have made many believers sit up and take notice. But the big question looms: how long can this thrilling AI ride continue? The AI fever is catching fire globally. Tech titans aren’t holding back. Google is planning to splash a whopping $40 billion on AI, Oracle will pour in $3 billion over five years, and German giant Bosch wants to spend 2.5 billion euros by 2027. Nvidia itself plans to invest $10 billion in AI, while Indian firms like L&T, Tata Elxsi, Zensar, and others are also jumping on the bandwagon, showing India’s slow but sure AI push. Countries such as the US, UK, and China are investing billions in AI chips, data centres, and cloud infrastructure. Investors, from retail folks to mega asset managers, are thrilled by AI’s promise of reshaping the world. Indian mutual funds are following suit. For example, Parag Parikh Flexi Cap Fund holds about Rs.19,000 crore – nearly 16% of its assets – in AI-linked companies. ETFs like Motilal Oswal Nasdaq 100 and Mirae NYSE FANG+ are pouring heavy investments into AI stocks, matching the US market trend. Even Warren Buffett's portfolio has 27% tied to AI-driven businesses. But is all this AI excitement just real or a big bubble waiting to burst? Oracle's stock soared from $150 to almost $350 on AI dreams, then dropped back to about $220, hinting at volatility ahead. Some experts compare today's AI boom to the dot-com bubble of 2000 – when wild hopes and huge money bets caused many companies with no real sales to become sky-high stars before crashing down. Kirtan Shah of Truvanta Wealth warns, “Billions are being poured into GPUs and AI data centres. Everyone’s chasing the future. AI will be the future, but companies like Nvidia, Microsoft, Meta, Oracle, and OpenAI might be over-allocating capital to AI.” But Vikas Gupta of Omniscience Capital counters with a brighter view: “Unlike dot-com times, today’s AI giants generate $300-500 billion in revenue and about $100 billion in cash flows, making this cycle very different.” Viram Shah of Vested Finance agrees: “These companies have strong earnings and lead in cloud AI, chips, and generative software.” Valuations today are high – Microsoft trades at about 35 times earnings, Nvidia at 50 times – but not crazy like the dot-com boom where tech stocks hit 70 times forward earnings. Indeed, US tech giants plan to spend $344 billion on AI in 2025 alone, aiming for $500 billion by decade end. But unlike the 2000 internet bubble, this spending comes from profits, not debt. Still, some deals between companies like Nvidia, CoreWeave, and OpenAI look like circular money loops designed to boost growth figures. Vikas Gupta says, “This looks like circular trading but is strategic because AI labs and cloud providers need each other to grow and attract big clients.” AI isn’t free from risks. Power-hungry data centres need huge electricity, and places like Texas and Northern Virginia face strains. Slower AI demand or unused data centres could cool the investor excitement fast. Pratik Oswal from Motilal Oswal AMC notes, “So far, Nvidia is the only company truly monetizing AI success.” Liquidity tightening or rising interest rates could also choke funds for smaller AI startups, many still unprofitable, warns Gupta. If AI stocks drop 30%, ETFs heavily invested in them could lose 10% or more, hitting investors hard. So, should you jump in? Experts advise a balanced approach. Shah of Vested Finance says, “The long-term journey looks exciting, and market dips might offer good buying chances for smart global investors.” The AI train is speeding – but buckle up, it could be a wild, thrilling ride!