Real Vision: Finance & Investing The AI Pendulum Swings the Market Hard
Mar 2, 2026
Ejaz, founder and CIO at 26CC and AI/technology investor, breaks down current AI market narratives. He explores why capital shifted from crypto to AI. He contrasts NVIDIA and Google, discusses AI agents and where value accumulates, and examines Block’s workforce cuts and the human cost of automation. He also highlights hardware, energy, and U.S.–China dynamics as key themes for the next few years.
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Why Capital Is Pouring From Crypto Into AI
- Capital is rotating from crypto into AI because AI is a much larger, hyped technology attracting massive investment.
- Ejaz frames AI as 10–50x the size of early crypto, driving attention and money away from crypto markets.
AI Cycle Hits Physical Limits Not Just Valuations
- There won't be a single peak in the AI cycle; limits like power and memory constrain scaling.
- Ejaz argues CapEx can't fully pop an AI bubble because the energy grid and hardware supply cap how fast firms can run GPUs.
Agents Evolved From Demos To Useful Automators
- Agents are maturing fast: early demos were fragile, but features like persistent memory and tool use (from OpenAI's OpenClaw) closed many gaps.
- Ejaz notes multiple weekly releases have made agents practical for automating 50–70% of routine knowledge work.