Authored by James Rickards via The Daily Reckoning,It's past time to look beyond the AI hype. The stock valuations of the leading hyperscalers and frontier AI modeling companies are almost certainly in bubble territory. But the market will sort that out in time.We all know the names of the AI stocks whether from the hardware, software or compute vectors – Apple, Microsoft, Meta, Google (Alphabet), Amazon, OpenAI, Anthropic, NVIDIA and a few others.Some of these names have valuable core businesses independent of the AI bubble. Others are pure AI plays. All will be hurt to a greater or lesser extent…