WorkThe story, in brief
Agents Over Bubbles
Nobody is talking about this: agents just killed the AI bubble narrative.
The KeyNews take
Why it matters
A prominent tech analyst argues that agent adoption is fundamentally reshaping compute demand and justifying AI valuations—shifting the debate from 'bubble or not' to 'what does post-bubble growth look like.'
The key facts
4 to knowAgent capability cited as reason to reject bubble thesis
Compute demand patterns shifting due to agent workloads
Implication: AI infrastructure valuations have fundamental economic justification
Published March 2026 — suggests agents are entering deployment phase
Go to the source
Stratechery (Ben Thompson)stratechery.com
Publisher excerpt: Agents are fundamentally changing the shape of demand for compute, both in terms of how they work and in terms of who will use them. They're so compelling that I no longer believe we're in a bubble.