ETF = AI cluster risk??

Hello everyone, a topic has been on my mind since the weekend that concerns the long-term logic of passive investing and I would like to hear some opinions on it. ​ On Friday, SpaceX (including xAI) went public and immediately exited trading with around USD 2.1 trillion. And OpenAI and Anthropic are already in the starting blocks with their billion-dollar IPOs; the S-1 applications have only just been submitted. I want to talk about the technology itself