Are we living in an AI bubble? Applying lessons from the dot-com era

The excerpt compares today’s AI investment environment to the dot‑com era, noting that current funding targets established, profitable enterprises and tangible infrastructure (data centers, specialized chips) rather than speculative startups. It warns that reliance on a small number of vendors, platforms, and models concentrates risk and could lead to uneven downstream impacts if valuations shift or consolidation accelerates.