Why Jamie Dimon Believes the Hype Surrounding Artificial Intelligence (AI) Is Not the Same as the Dot-Com Bubble
Artificial intelligence (AI) has been a hot investing theme for over a year now, since ChatGPT first arrived on the scene in November 2022. Since then, many companies in and outside of tech have been working on developing their AI capabilities to take advantage of next-gen technologies. And valuations have also risen with any stocks able to cash in from that.
Nvidia (NASDAQ: NVDA) is an easy example of that, with its market cap hitting more than $2 trillion this year. The company has been achieving strong top and bottom-line growth thanks to the growing popularity of AI. However, at more than 70 times earnings, some investors may be worried that Nvidia and other AI stocks are in what could just be today's version of the dot-com bubble.
One of the smartest businesspeople in the world, JPMorgan CEO Jamie Dimon, however, believes that AI is the real deal, and that it isn't just hype.
Source Fool.com
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