Mounting concern about overvalued AI companies is gaining momentum as Anthropic prepares for its IPO, with industry observers pointing to several concrete warning signs. Graphics processing units continue to accumulate in warehouses despite massive recent capital deployments, suggesting potential demand shortfalls. Data center operators face mounting debt burdens tied to AI infrastructure buildouts, creating financial stress if utilization rates don't justify borrowed capital. A troubling concentration of revenue among a small cohort of venture-backed startups compounds the sector's risk profile. The episode, hosted by NLW, examines which bubble indicators merit serious attention and which reflect normal market noise. GPU overcapacity could signal either overestimated near-term adoption or severe capital misallocation. More concerning is the fragility created when multiple risk factors converge: idle hardware, stressed infrastructure financing, and heavy dependence on a narrow group of well-funded companies. The broader question is not whether bubble signals exist but when accumulating pressures might trigger an actual correction. If several warning signs compound—undeployed GPUs, faltering data center economics, or turmoil among key startups—market nervousness could crystallize into a genuine reckoning for the entire AI ecosystem.