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Fortune

Jason Ma

What bubble? By this measure, the AI boom still isn’t at dotcom bust levels

John Higgins the Federal Reserve US Federal Reserve Capital Economics Economy OpenAI Oxford Economics

(Credit: Getty Images)

Relentless stock market highs, astronomical valuations for OpenAI, and reports of hyperscalers taking on more debt have stoked fears that the AI boom is another tech bubble ready to pop.

Even OpenAI CEO Sam Altman acknowledged this summer that investors were getting “overexcited about AI” and drew parallels with the dotcom bubble.

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