south korea's market crashed 10% in june and another 7% last week. both driven by AI stocks. the kospi ran up 200% year on year almost entirely on AI hype. samsung and sk hynix make up half the index. when AI sentiment dips, the whole market goes with it. nasdaq dropped 2% the same week too. this isn't just korea. companies are spending billions on infrastructure, models are getting cheaper by the month, chinese labs are giving away frontier-level models for free. are we investing in AI or are we just investing in the idea of AI?
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