The last time Barron’s convened a Tech Roundtable— in August 2023 —generative artificial intelligence was in its honeymoon phase. ChatGPT was less than a year old. The Magnificent Seven were still just characters from a 1960s Western. And Nvidia carried a third of its current $3 trillion market value. Looking back at that moment, it’s clear investors managed to both under- and overestimate how AI would change the marketplace.