The hype surrounding artificial intelligence (AI) has drawn parallels to the dot-com bubble of the late 1990s, warns veteran ESG investor James Penny. While companies that mention AI in their earnings report have seen a boost to their share price, Penny says it is a sign of hype similar to the dot-com era. Last month, chipmaker Nvidia reached a market cap of $1tn thanks to the AI hype, but Penny cautions that the high-growth narrative may lead to a significant downturn. OpenAI CEO Sam Altman also warned of an investor frenzy around AI in the short-term. Penny suggests investors should be wary of overhyping products.
AI Hype May Result in Another Dot-Com Bubble, Experienced Investor Warns
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