The entire promise of the AI investment bubble was: We'll get AGI. Probably superintelligence. And whoever achieves it first is going to be able to rule the world, because it goes exponential after that. And of course it's going to be a mega-corp dystopia. So their shares will take off like nothing before. So you want in as well.

Pretty sure that's why companies singlehandedly invested sums of money bigger than the GDP of entire small countries. Not because it was deemed a tool predicted to take charge of x amount of work for them and be worth that. It should be the calculation for someone who applies AI. But it's not really what the investment bubble is (or was) about.