World’s top fund management company to investors: The company that replaced Apple and Microsoft to become the world’s most-valuable is in a “bubble”

Hedge fund giant Elliott Management has cast doubt on the meteoric rise of AI chip giant Nvidia, labelling the chipmaker as a “bubble” and dismissing the hype around artificial intelligence. In a letter to investors, seen by Financial Times, the fund management company expressed scepticism about the sustainability of Nvidia’s soaring stock price, driven largely by the frenzied demand for its chips, crucial for powering AI applications.