Besides that, a lot of the value is derived from the market trying to figure out if/what company will develop AGI. Whatever company manages to achieve it will easily become the most valuable company in the world, so people fomo into any AI company that seems promising.
There is zero reason to think the current slop generating technoparrots will ever lead into AGI. That premise is entirely made up to fuel the current “AI” bubble
sure, but that can be said of literally anything. It would be interesting if LLM were at least new but they have been around forever, we just now have better hardware to run them