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By Monica DEFEND, Head of Amundi Investment Institute
The comparison is almost inevitable. As artificial intelligence continues to drive equity markets higher, investors increasingly wonder whether they are witnessing a repeat of the dot-com bubble that burst at the start of the millennium.
The similarities are clear. A relatively small group of technology companies is responsible for an outsized share of market returns, while enthusiasm for a transformative technology continues to fuel growth expectations. Yet a closer look suggests that today’s AI-driven market differs fundamentally from the speculative excesses of the late 1990s. The more relevant question may not be whether AI represents a bubble, but whether investors fully understand...
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