AI Bubble Ends Before 2027? No, It Will Grow Bigger / Why You Should Buy Samsung Electronics If It Plummets

AI Bubble Ends Before 2027? No, It Will Grow Bigger / Why You Should Buy Samsung Electronics If It Plummets | Kim Jang-yeol, Center Head
Watch on YouTube ↗  |  August 25, 2026 at 07:33  |  23:06  |  815 Money Talk (815머니톡)
Speakers
Kim Jang-yeol — Reporter, The Bell

Summary

Kim Jang-yeol, Research Center Head at Unistory Asset Management, argues the AI bubble thesis is premature because AI capex is not slowing, supply bottlenecks prevent overbuild, and AI cloud backlogs are multiples of capex. He sees token demand supported by AI agents and early AI search ad monetization at Google and OpenAI, with the Korean market bottom already passed. He favors buying Samsung Electronics on sharp dips, balancing AI and non-AI Korean sectors, and warns that rising US Treasury yields toward 5% is the main macro risk.

  • AI bubble bear case rests on high CAPE and Buffett index but lacks a capex slowdown trigger.
  • AI infrastructure bottlenecks and cloud backlogs around 3x capex support continued AI investment.
  • Token demand is seen staying strong as AI agents increase inference loops.
  • Google and OpenAI are beginning to monetize AI search via advertising.
  • Korean market bottom is viewed as passed with lower volatility expected.
  • Investors are advised to buy Samsung Electronics on excessive declines and balance AI/non-AI sectors.
  • US 10-year yield near 4.9-5.0% and 30-year near 5.7% are seen as key volatility thresholds.
Ideas
Kim Jang-yeol Reporter, The Bell 2:15
AI capex cycle continues; bubble fears premature.
AI bubble fears are premature because AI capex growth is not slowing, current bottlenecks in GPU, HBM, networking, and power prevent the overbuild that would burst a bubble, and AI cloud order backlogs are roughly three times capex, so AI infrastructure investment should continue expanding.
SMH NVDA HIGH
Kim Jang-yeol Reporter, The Bell 6:27
Backlogs three times capex support revenue.
CoreWeave and Nebius may have small current revenue, but their AI-related order backlogs are about three times their capex, giving them a path to convert backlog into revenue and eventually outgrow capex burdens, with financing support including from NVIDIA.
CoreWeave NEBIUS MED
Kim Jang-yeol Reporter, The Bell 12:52
AI search ads offset token deflation.
Google's AI search mode is starting to monetize: a survey of about 52,000 queries found ads on roughly 30% of AI-mode searches, with high-CPC ads on about 50% of monetized queries, and OpenAI is showing similar early ad monetization; this can offset falling token prices and improve AI service profitability.
GOOG HIGH
Kim Jang-yeol Reporter, The Bell 16:48
Watch US yields at 5% threshold.
The main new macro risk is US yields: if the 10-year Treasury approaches 4.9-5.0% or the 30-year approaches around 5.7%, equities are likely to experience a sharp volatility shock; absent this, volatility should be lower.
US10Y US30Y MED
Kim Jang-yeol Reporter, The Bell 19:07
Balance AI and non-AI Korean sectors.
Investors should not chase only Samsung Electronics and SK Hynix in AI; balance AI exposure such as Samsung Electronics, SK Hynix, semiconductor materials/parts/equipment, and power equipment against non-AI sectors like cosmetics, biotech, and secondary batteries, while keeping 20-40% cash to deploy on sharp dips.
Korean Power Equipment Korean cosmetics Korean Biotech Korean secondary batteries Korean semiconductor materials/parts/equipment 000660.KS MED
Kim Jang-yeol Reporter, The Bell 19:07
Korean market bottom passed; volatility lower.
The Korean market bottom has passed and volatility should be lower than the June-August shocks; selling in Samsung Electronics is rotating into other sectors rather than structurally breaking the broader index.
EWY MED
Kim Jang-yeol Reporter, The Bell 19:47
Buy Samsung Electronics on excessive dips.
Samsung Electronics' sharp underperformance and disappointment appear already priced in, and the market's drop is rotational rather than a broad collapse; investors can buy Samsung Electronics when it falls excessively because the market bottom has passed and AI exposure remains intact.
005930.KS HIGH
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815 Money Talk (815머니톡) · Aug 25

This 815 Money Talk (815머니톡) video, published August 25, 2026, features Kim Jang-yeol discussing SMH, NVDA, CoreWeave, NEBIUS, GOOG, US10Y, US30Y, Korean Power Equipment, Korean cosmetics, Korean Biotech, Korean secondary batteries, Korean semiconductor materials/parts/equipment, 000660.KS, EWY, 005930.KS. 7 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Kim Jang-yeol  · Tickers: SMH, NVDA, CoreWeave, NEBIUS, GOOG, US10Y, US30Y, Korean Power Equipment, Korean cosmetics, Korean Biotech, Korean secondary batteries, Korean semiconductor materials/parts/equipment, 000660.KS, EWY, 005930.KS