If This Is an AI Bubble, Where Are the Shorts?
A Q&A with the author of The Bear Cave. Plus: A gut check on how to invest right now.
A trader on the floor of the New York Stock Exchange in January.
Photographer: Michael M. Santiago/Getty Images
Taiwan Semiconductor Manufacturing Co. briefly ignited a stock rally today after beating expectations in the third quarter and raising its growth projections for the rest of 2025. TSMC’s results looked like a good sign for the artificial intelligence economy. But what if it’s actually another datapoint that we’re in an AI bubble? Christopher Beam writes today about one sign to watch for. Plus: If you do think we’re on the brink of something big, where should you put your money?
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