The eerie parallels between AI mania and the dot-com bubble

Is it karma?

- James Mackintosh

Coincidence? Either way, the ghost of the dotcom bubble is back 25 years late.Shares in Cisco Systems, the dotcom-era champion that became the world’s most valuable company at its peak in March 2000, this week reached that level again for the first time. It’s a cautionary tale of how far stock prices can depart from reality.

Bulls spend a lot of time denying that there's a 1990s-style bubble inflating again in artificial intelligence. But it’s worth going through a few of the striking similarities, and some notable differences.

Valuation