Chris Bora’s Substack
Everyone's talking about the AI infrastructure bubble. The numbers are staggering - $600B in GPU investments that supposedly dwarf the actual revenue potential. Analysts are sounding alarms about over-investment. VCs are getting nervous. The narrative of "too much, too fast" is everywhere.
Here's what everyone's missing: We're not in an AI infrastructure bubble. We're actually catastrophically under-invested for what's coming. And I'll show you why with data that will blow your mind.
The real opportunity isn't in API fees or enterprise AI. It's in something far bigger: AI-generated, personalized audio and video advertising. Think programmatic advertising, but orders of magnitude larger.
Let me put this in perspective. In 2009, programmatic display advertising was a $0.5B market. By 2022, it hit $153B. That's a 300x increase. But that transformation will look tiny compared to what's coming.
Think about the current ad landscape. Google knows what you search for. Facebook knows what you like. But AI chatbots? They know what you're actually thinking about, planning, and trying to accomplish. It's not just intent data - it's conversation data. Real, human conversation data.
