It’s a Wave Not a Bubble, Nvidia Preview, Google’s I/O Highlights, Investing in Space Stocks

Nvidia’s upcoming earnings report serves as a critical barometer for the sustainability of the current AI-driven capital expenditure surge. With data center revenue skyrocketing from $4 billion to $73 billion in just three years, the market faces a pivotal debate regarding whether this growth represents a speculative bubble or a structural wave. Unlike the 1999 internet era, current infrastructure spending is funded by the world’s most profitable companies, suggesting a more durable foundation. While semiconductors have significantly outperformed software, the extreme valuation gap between these sectors may present contrarian opportunities. Additionally, the space industry is gaining traction as a potential next frontier, with companies like Intuitive Machines and AST SpaceMobile attracting attention as they transition from speculative demos to tangible infrastructure providers, despite the inherent risks of early-stage aerospace investment.