I'm fairly sure $7T is a speculation bubble, and that's going to pop like all bubbles pop. It's the combined GDP of Japan and Canada. It's too big for an investment.
It's not necessarily too big for a valuation, as a sufficiently capable AI is an economic power in its own right: I previously guessed, and even despite its flaws would continue to guess within the domain of software development at least, that the initial ChatGPT model was about as economically valuable to each user as an industrial placement student, and when I was one of those I was earning about £1.7k/month when adjusted for inflation, US$2.1k at current nominal exchange rates. 100 million users at that rate is $2.52e+12/year in economic productivity, and that's with the current chip supply and (my estimate of) the productivity of a year-old model — and everyone knows that this sector is limited by the chips, and that $7T investment story is supposed to be about improving the supply of those chips.
It's not necessarily too big for a valuation, as a sufficiently capable AI is an economic power in its own right: I previously guessed, and even despite its flaws would continue to guess within the domain of software development at least, that the initial ChatGPT model was about as economically valuable to each user as an industrial placement student, and when I was one of those I was earning about £1.7k/month when adjusted for inflation, US$2.1k at current nominal exchange rates. 100 million users at that rate is $2.52e+12/year in economic productivity, and that's with the current chip supply and (my estimate of) the productivity of a year-old model — and everyone knows that this sector is limited by the chips, and that $7T investment story is supposed to be about improving the supply of those chips.