A veteran tech investor says 'doom and gloom' over the AI boom is overblown, even though it has shades of the dot-com bubble
Tech investor Paul Wick argues that while the current AI boom shares characteristics with the dot-com bubble, the market fundamentals are healthier. He dismisses concerns of an imminent crash, citing strong enterprise spending and earnings.
Why it matters
Understanding market sentiment toward AI is critical for investors and those tracking the long-term viability of the current tech cycle.
Paul Wick is the CIO of Seligman Investments. 12/08 There are clear parallels between the AI boom and the dot-com bubble, tech investor Paul Wick says. But solid demand, strong earnings, and less mania make for a "healthier" backdrop, Wick said. Seligman's chief investor brushed off Michael Burry's worries but flagged some trends to watch. The AI boom has shades of the dot-com bubble , but fears of an imminent crash and mass unemployment are overblown, a veteran tech investor says. At the turn of this century , there was an explosion in dot-com startups being formed, and a huge infrastructure buildout with telecoms "aggressively" spending on wired and wireless networks, Paul Wick told Business Insider in an interview this week.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in