Are they spending enough money on the product for these companies to be profitable, after R&D costs are factored?

For most people it is just a search engine that allows them to avoid webpages that have turned hostile. The second biggest users are probably students who want their homework done for them.

So yes there is a market but that doesn't match the level of investment. A bubble doesn't mean the product is useless.

> For most people it is just a search engine that allows them to avoid webpages that have turned hostile

If this is true it means there is a ton of growth available once people understand that it's much more than this.

The vague snarky response is very telling. Some of you clearly have a personal stake at this but if I was you I would start selling those Nvidia stocks.

I wasn't being snarky or pushing stocks.

My point was: many or most people still think "AI" is limited to the summary at the top of Google search results. In Jon Stewart's recent podcast with Geoffrey Hinton he said that he thinks of AI as "polite Google".

So most people haven't tried applying this tech yet.

Also fyi NVDA is 7% of the s&p so if you own the market you own it too. I don't own it directly either.

It's not that people haven't tried AI, it's that there hasn't been many compelling products. Most are the software equivalent of knick knacks.