观点：所谓 AI 泡沫整体破裂的说法过于简化
CoreWeave 股价大跌后大家都在聊泡沫，这篇从收入和真实使用角度反驳了单一泡沫论，也承认 AI 初创公司会有一轮回调，观点挺平衡的。
作者针对当前流行的"AI 泡沫即将破裂"论调提出反驳，认为这种说法过度抽象化。他援引黑格尔的观点，指出当前的 AI 行业有真实使用量、实际收入和真实现金流支撑投资，与 2000 年互联网泡沫时期不同。但他也承认市场可能出现回调，因为大量资本正涌入任何名字带 AI 的初创公司。CoreWeave 股价大幅下跌后，市场对泡沫破裂的担忧再次升温，作者计划就此撰写更详细的分析。
I am increasingly coming across articles claiming that "the" AI bubble is about to burst. To begin with, this is an undifferentiated statement that abstracts away from reality - and as Hegel once so aptly put it: "To impose abstractions upon reality is to destroy reality."
What I mean by this is that reality is far more complex; I am convinced that there is no single "bubble" waiting to burst. I wrote about this in detail in my newsletter today. In short, while there are certainly financial challenges, the current situation is fundamentally different from historical bubbles like the dot-com era. There is genuine real-world usage, actual revenue, tangible future-oriented sectors, and a real economic impact - all of which will justify the investments made. I am certain of this.
That said, market corrections are likely, as there is currently a great deal of capital flowing into almost any startup that happens to have "AI" in its name- a trend that probably cannot continue indefinitely. However - and this brings me back to my point about the danger of over-abstraction - I do not believe that "the" bubble is going to burst. I plan to write more extensively on this in the coming days, as it will likely be the most significant topic over the next few months - especially following the sharp decline of CoreWeave, which has reignited market concerns about a potential "bursting of the bubble."
