I would guess the horses were thrilled to get unhitched from the plow.  As far as the narrative, yes I agree many people think that what is a breakthrough is going to immediately lead to super intelligence and AGI, which to me is like getting steam power and saying "Ok only a little time until we have cold fusion".  That's not how it works.

The increase in stock price is obviously a giant monetary premium from people trying to find somewhere to park their money that protects it from debasement.

That said, the national defense implications of those chips is substantial.  It is overpriced?  Well based on earnings you would have to think yes, it is.

I certainly don't own it.  But I understand why so many people do.