Three years after the launch of OpenAI’s ChatGPT, the generative AI hype cycle is getting long in the tooth as investors grow impatient with the lack of value being created on the software side of the industry. Artificial intelligence (AI)-related tech companies like Palantir Technologies (NASDAQ: PLTR) and Tesla (NASDAQ: TSLA) are now struggling to justify their optimistic valuations. Palantir’s bull thesis is losing steam, with shares down 36% — at the time of this writing — from their all-time high of $125 reached in mid-February.
