Big Tech’s latest earnings cycle confirmed one thing clearly: the AI boom is real, accelerating, and already reshaping the revenue engines of the world’s largest companies.

Intel’s (INTC) return to dot-com-era highs is hooking attention across Wall Street, but the bigger story isn’t just the rally. After more than two decades of recovery, the chipmaker’s breakout is serving as a reality check for investors piling into today’s AI trade at elevated valuations