New Delhi, July 3 -- Artificial intelligence has propelled companies like Nvidia to the forefront of one of the biggest technology booms in history. Chipmakers, large language model (LLM) developers and data centre companies have attracted trillions of dollars in investor capital, becoming the face of the AI revolution. But according to renowned valuation expert Aswath Damodaran, investors chasing today's winners may be missing the bigger opportunity.

In an interview with CNBC-TV18, the NYU Stern School of Business professor argued that while Nvidia and other AI infrastructure companies are clear beneficiaries of the current spending cycle, history suggests they may not become the biggest long-term winners. Instead, he believes the compa...