The article discusses the parallels between the internet bubble of the early 2000s and the current AI bubble. It references a Barron’s cover story from March 2000, predicting the internet bubble burst, which coincided with a significant market downturn. Similar skepticism is now emerging regarding AI investments, highlighted by a report indicating that 95% of organizations see no return on their generative AI spending. Key companies like Palantir and Nvidia have faced stock declines as a result. The content critiques corporate struggles to leverage new technologies and points out that the latest iteration of AI has not met the high expectations set by previous versions. Despite this, it also notes surprising advancements in AI capabilities. The piece highlights the broader economic implications of AI investments, including their role in financing the U.S. current account deficit, and discusses trends in trading volumes on stock exchanges driven by millennials. Overall, the article tempers optimism about the AI boom with a cautionary perspective on potential market corrections in the future.

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