Which of these companies are publicly traded? In order for there to be a 2008 type of bubble, you need active participation from retail investors to fuel speculation at scale. AI doesn’t have that currently unless you count diversified companies like Microsoft or even Nvidia. But those aren’t pure AI plays.

I get your argument with Tesla, but so much of its recent troubles stem from its erratic CEO. That’s one example though of where the promise of AI is priced into a publicly traded company. Every other example is either not publicly traded (OpenAI) or is a diversified tech giant (Microsoft). This is a fundamental (and potentially fatal) flaw of your analysis.