Powell says that, unlike the dotcom boom, AI spending isn’t a bubble: ‘I won’t go into particular names, but they actually have earnings’ | Fortune
fortune.com
However, the Fed chair noted that the growth is unevenly distributed and concentrated among only a few companies.

The entire US economy right now is 7 companies sending a trillion fake dollars back and forth to each other, but it’s totally not a bubble according to grampa Powell.