AI bosses say demand is ‘almost unlimited’. The market is no longer taking their word for it.

AI industry leaders claim demand for AI-related technology is extremely high, with some suppliers reporting multi-year sellouts. However, despite strong demand, stock prices in the chip and data-center sectors remain volatile because current valuations already reflect perfect execution and future growth, leading to investor skepticism. The main limiting factor identified is energy availability, which could constrain the AI market's expansion.