The past month has seen some signs in the financial markets that the AI bubble is beginning to deflate. First it was the neoclouds, which are off-balance sheet entities for large tech and chip companies, getting crushed. Then on Monday, AI giant Anthropic made public its initial draft S-1 filing, the form it has to submit before it sells shares on the stock market. Then, a few days later, Google and Amazon released their earnings, disappointing investors with misses in revenue targets and higher than expected negative free cash flow. Google stock alone fell by 12% on Thursday, a half a trillion dollar collapse. The next day, the whole tech sector got crushed, and it now down 10% from its high.