AI Chip Stocks Face Bubble Talk As Earnings Stay Explosive

<table>
  <thead><tr><th>Metric</th><th>Value / Change</th></tr></thead>
  <tbody>
    <tr>
      <td>Nvidia Data Center revenue FY2025</td>
      <td>$115.2B, +142% YoY (through January 26, 2025)</td>
    </tr>
    <tr>
      <td>TSMC Q3 2025 revenue</td>
      <td>≈$33.1B, +40.8% YoY, AI chips main driver</td>
    </tr>
  </tbody>
</table>

<p>On the sentiment side, the spike in “AI bubble” mentions is notable. <a href="https://www.businessinsider.com/ai-bubble-mentions-surge-earnings-call-data-2025-12">Business Insider</a> reports 42 calls citing that phrase in Q4 2025 so far, versus only five in the prior quarter. Yet leading AI suppliers like Nvidia and AMD continue to publicly dismiss bubble concerns, arguing that spend is still tracking real workloads, not just hype.</p>
<p>For traders, this mix — explosive fundamentals, but worsening narrative — often leads to a regime shift: more two‑way trade, sharper drawdowns on bad news, and options markets that start to price fatter tails around events.</p>