The spectacular rise of the stock markets through 2024 and early 2025 have been powered by a speculative AI mania. There can be little doubt that valuations have got somewhat ahead of themselves by any measure. Yet, as always in manias we hear, this time it is different, but is it? One just has to look at the market reaction to Chinese start-up DeepSeek’s artificial intelligence (AI) models being listed as a free open-source app. They were listed for free … Continue reading “DeepSeek The AI Speculative Bubble Top?”