Steve Eisman: Investors are buying the wrong AI stocks — the real opportunity is in infrastructure

Summary

Steve Eisman, the investor famous for betting against the housing market before the 2008 crash (the "Big Short"), argues that investors are piling into the wrong AI stocks. He criticizes the hype around companies like SpaceX (valued at 100x revenue despite modest earnings) and suggests that the real AI opportunity lies in infrastructure and enabling technologies — such as power generation, data centers, and semiconductor equipment — rather than the flashy consumer-facing AI names. Eisman draws parallels between the current AI frenzy and the dot-com bubble, warning that many AI stocks are overvalued while the true value lies in the less glamorous backbone of the AI revolution.

Source

bskySteve Eisman: Investors are buying the wrong AI stocks — the real opportunity is in infrastructurefortune.com