The current rush of AI investments is putting stock market discipline to a serious test. With massive capital flooding into AI-related sectors, we're seeing a pattern reminiscent of previous market cycles—euphoria driving valuations higher, often disconnected from fundamentals.

The question isn't whether AI matters. It clearly does. The real issue is whether markets are pricing in realistic returns or chasing a narrative. When spending frenzy takes over, historically that's when smart money starts asking harder questions.

Investors accustomed to disciplined decision-making face real pressure. FOMO is real in institutional playbooks too. The difference between sustainable growth and bubble behavior often comes down to one thing: whether price movements reflect actual utility and revenue potential, or just herd mentality.

This moment reveals something crucial about market structure. Will fundamentals reassert themselves, or does the consensus momentum win? Past cycles suggest that when discipline breaks down at scale, corrections tend to be sharp and unforgiving.