AI The Next Dot-Com Bubble? Gene Munster Vs. George Noble Tonight At 7PM ET Wall Street’s bulls and bears live in two different worlds when it comes to AI: Are we at the early stages of a technological revolution or another bubble destined to burst?
And in the last month, the momentum has shifted towards the bears… October saw significant drops in major tech sector names following the Nasdaq-100's recent selloff, led mostly by Intel which plunged 47% on for the month. Nvidia and Google also saw drops well above 12% and as of Monday’s close, the tech-heavy index officially entered correction territory, falling more than 10% from its October 6 high.
Combined AI spending by major technology companies is expected to exceed $730 billion this year. So the question remains whether this money is being thrown down a black hole.