AI Surge Sparks Fears Of Dot-Com-Like Bubble Burst

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AI Surge Sparks Fears Of Dot-Com-Like Bubble Burst - Benzinga

Quick Summary:

Nvidia and a handful of other giant tech stocks are driving the current market, much in the same way that the “Four Horsemen” Cisco Systems, Inc.(NASDAQ:CSO), Dell Technologies Inc.(NYSE:DELL), Microsoft Corporation (NASDAQ:MSFT) and Intel Corporation (NASDAQ:INTC) did nearly three decades ago.

The soaring investor interest in artificial intelligence has propelled a rally in U.S.stock markets, but it has also fueled concerns about a potential AI-bubble burst akin to the dotcom-bubble eruption of the late 1990s.

The excitement over AI in recent weeks has sent the S&P 500 Index, tracked by the SPDR S&P 500 ETF Trust (NYSE:SPY), to new highs after gaining more than 50% from an October 2022 low.