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The AI boom is more overhyped than the 1990s dot-com bubble, says top economist
Torsten Slok, chief economist at Apollo Global Management, recently argued that the stock market currently overvalues a handful of tech giants – including Nvidia and Microsoft –...
Drawing comparisons to the dot-com crash that wiped out trillions at the turn of the millennium, analysts caution that today's market has become too reliant on still-unproven AI investments. In the late 1990s, numerous companies attracted venture capital in hopes of profiting from the internet's growing popularity, and the stock market vastly overvalued the sector before solid revenue could materialize. Such disparity suggests investments in those firms – mostly tech giants heavily betting on AI – have detached from reality before their newest technology can generate real profits.
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