The AI trade has rewarded companies that can show infrastructure demand, chip supply strength and enterprise adoption. But valuations now need stronger evidence.
Capital is becoming selective
Markets are watching whether AI spending turns into measurable productivity and revenue. Companies that only speak in broad future language face tougher questions.
The signal to watch
The clearest signal is repeat customer usage. If AI products become daily workflow tools, revenue becomes more durable and investors can price the opportunity with more confidence.
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