Anyone considered the high energy price impact on the mag 7?

So those who’ve seen my prior posts on this sub know I think the US markets have been overvalued for a while. However, factor the jumps we’re seeing in oil and Nat gas in, plus the fact these guys have compute so f*king large they resorted to literal f**king JET ENGINES to power them, and imo those valuations now look and feel like you’re at the top of oblivion at Alton Towers.

Question is twofold.

1, Does anyone agree, and 2, does anyone have any meaningfully reality-based narrative to prop up the current valuation of the top end of the S&P / Nasdaq, if you disagree?

Oh, also forgot AWS just lost a data centre to an actual god dam war zone. They can’t claim on insurance for that, so they will have to cover the cost of rebuilding that data centre, and continuing to scale out unprofitable AI compute. The military will naturally transition to on device AI inference, because it’s just more secure than constantly transmitting all your ideas off to a data centre, and it removes the key location risk that would see entire AI based army wiped out due to a data centre outage. This would render a not insignificant amount of the prior buildouts, politely speaking, hangover-inducingly pointless.