Home Market Outlook Today's Market Summary I lean toward the view that we are indeed in an AI bubble. The pop is nowhere in sight. That’s why I’m fully invested and cautious at the same time. Consider this: earlier this year, AWS AI revenue run rate was over $15 billion, while Amazon's CapEx could reach about $200 billion in 2026. The math doesn't add up. As long as the music is playing, I’ll dance to the rhythm of the market. The tune is hyperscaler CapEx, and I believe semis remain one of its clearest beneficiaries. I don’t mind being long a blatantly obvious crowded trade. I optimize for returns, and right now, the market’s rhythm is still being set by hyperscaler CapEx. There are risks, the most obvious buying at the peak of the AI cycle. Others include datacenter delays, China export controls, and an abrupt end of the memory supercycle.…