When the five smartest companies in the world, employing the top talent and controlling the most abundant capital, collectively reach the same conclusion that "AI infrastructure must be invested in regardless of cost," this consensus itself is what should be viewed with caution. Historically, industry consensus rarely prevents bubbles; instead, it often pushes them to their peak. However, the consensus could also be right.

This statement is very accurate. Regardless of whether there is an AI bubble, I have encountered many people using Jensen Huang's and Elon Musk's words as evidence that there is no AI bubble, which is quite funny. Regardless of their potential conflicts of interest, the formation of all historical bubbles has been fueled by the consensus among these top figures.