TECH

Nvidia’s earnings prove the AI surge continues, but expanding capacity and rising debt signal a shift toward critical overbuild risks.

Data centre delays raise bubble fears, but real physical constraints and strong hyperscaler cash flows signal the AI boom isn't over.

Tech prices having swung from consistently falling over recent decades to posting large gains, although non-tech inflation is also high.

AI will boost productivity, but the question is can companies will make an adequate return on their investment to justify lofty valuations.

The tech sector has accounted for the bulk of recent US economic growth, pointing to a speed limit for growth of about 2½%.

Investors in transformative businesses need to remain patient. History shows that returns will be lumpy - unevenly distributed over time.