"Who's The Next Incremental Buyer?" - Options Market Signals Doubts Rising Over AI Bubble

With Melius Research (who?) writing a note this week asking (and answering) "Dare We Say Nvidia Is Now Cheap?", we couldn't help but get that feeling that investors may have jumped the shark on the AI bubble (now that NVDA's Q2 earnings are behind us).

Of course, there are plenty of superlatives surrounding the AI new world order:

"OpenAI is currently on pace to generate more than $1 billion in revenue over the next 12 months from the sale of artificial intelligence software and the computing capacity that powers it. That’s far ahead of revenue projections the company previously shared with its shareholders, according to a person with direct knowledge of the situation," according to The Information.