Can the AI bubble theory take a break? Veteran investors assert that the bull market can continue for another 2-4 years.

Intelligent Alpha CEO and Deepwater Asset Management managing partner Doug Clinton said that the artificial intelligence (AI) bull market is expected to continue for "another two to four years". Clinton addressed concerns about whether there is a bubble in the AI market during an interview, and pointed out that the more important question is whether this bull market has already ended - he firmly believes it has not. Chip giant NVIDIA Corporation (NVDA.US) will report its earnings after the market closes on Wednesday. Clinton's model predicts that NVIDIA Corporation's revenue and earnings per share will exceed market expectations. Clinton said, "As people become slightly more cautious about AI, perhaps we can breathe a sigh of relief." Although NVIDIA Corporation's expected P/E ratio is "slightly high", Clinton believes that its valuation is still reasonable compared to other tech giants. He noted that excluding Tesla, Inc. (TSLA. US), the expected P/E ratio of the six major tech giants is about 28.5 times, while NVIDIA Corporation's expected P/E ratio is over 30 times, but its "expansion is not as large as other companies". Clinton warned that although the long-term trend of AI is on the rise, the market will experience periods of being "above average and then below average". Clinton pointed out that the current market "may be slightly overheated", although "there has been a slight cooling off in the past few weeks", causing him to "pause slightly in some truly important AI areas". In addition to large cap stocks, Clinton also highlighted two investment opportunities: Datadog (DDOG.US) is an investment target in the software industry related to AI, as "the performance of the software industry this year has been very poor". Non-AI stock First Solar Energy (FSLR.US) is expected to benefit from the expansion of US manufacturing.