AI market analysis

AI Skepticism vs AI Reality (Part II): It’s Not a Bubble — It’s the Largest Infrastructure Upside Since the Cloud

May 4, 2026 OZ Artificial Intelligence, Technology

AI skepticism is collapsing under the weight of real data. Microsoft’s latest quarterly results show that AI demand is accelerating, capacity is filling faster than it can be built, and AI revenue is already material at scale. This is not a speculative bubble. It is the largest infrastructure expansion since the cloud and the early signs point to a long cycle of growth that skeptics failed to see. The upside is structural and only beginning.