This is just a very expensive buyback. At the heart this is all Nvidia doing round about the same mechanism of pushing the share price up. This started out as a useful idea, and it’s mutated into something that is destroying the economy
I think the comparison to stock buybacks is ludicrous.
Evidence?
Perhaps depends on what you mean with "ecosystem". Within the AI tech/hype, sure, there it's good. But for the economy as a whole? Is it that good? There are probably some benefits, but do they match the current valuations?
Most likely they don't, because hype cycles inherently overvaluate things for a while because they don't know what will stick. If things were not dramatically overvalued right now then investors would not be acting in their best interest.
Will it match a certain valuation within a certain time period? I guess I don’t really care, I’m not an investor.
[1] https://www.mckinsey.com/capabilities/operations/our-insight...