I agree, in any time in US history there has always been those 5-10 companies leading the economic progress.
This is very common, and this happens in literally every country.
But their CAPEX would be much smaller, as if you look at current CAPEX from Big Tech, most of it are from NVidia GPUs.
If a Bubble is happening, when it pops, the depreciation applied to all that NVidia hardware will absolute melt the balance sheet and earnings of all Cloud companies, or companies building their own Data centers like Meta and X.ai
And NVidia don't even make the GPUs! They're all made on a brave little island off the coast of China, while 7 huge US companies shuffle them around and exchange vast amounts of money for them.
This is very common, and this happens in literally every country.
But their CAPEX would be much smaller, as if you look at current CAPEX from Big Tech, most of it are from NVidia GPUs.
If a Bubble is happening, when it pops, the depreciation applied to all that NVidia hardware will absolute melt the balance sheet and earnings of all Cloud companies, or companies building their own Data centers like Meta and X.ai