For years now, everyone's been throwing money at Big Tech's AI dreams. Billions poured in, promises made. But here's the thing—where's the actual payoff? The numbers are still fuzzy, and investors? They're starting to sweat.

Industry voices are noticing the shift. The vibe is changing. People are moving away from the hype train and looking for something more solid. Quality over buzz. When the excitement fades—and it always does—what's left standing are the fundamentals.

It's a familiar pattern, really. Every cycle has its darlings. Then reality checks in. Suddenly, balance sheets matter again. Revenue matters. Actual use cases matter. The names that survive aren't the loudest ones—they're the ones built on something real.

Right now, smart money is repositioning. Less flash, more substance. Because when the music stops, you want to be holding assets that actually work, not just ones that promised the moon.