As central bankers warn of an AI bubble, Silicon Valley’s true believers are doubling down—turning AGI prophecy into cash, clout, and billion-dollar bets.

“AI better deliver for the U.S., or its economy and markets will lose the one leg they are now standing on,” warns Ruchir Sharma of Rockefeller International.

Great technologies might be able to survive the bursting of bubbles, but the portfolios of investors are unlikely to be as fortunate.