As the AI industry’s market value continues to balloon, experts are warning that its meteoric rise is eerily similar to that of a different — and significant — moment in economic history: the dot com bubble of the late 1990s. The dot com bubble — and subsequent crash — was an era defined by a gold rush-like frenzy and inflated valuations. Hungry to cash in on a new, lucrative age of technology, venture capitalists took to throwing large sums at companies that, though they made all the right promises about their ability to change the world, had yet to actually prove their viability. And when the vast majority of these ventures ultimately fell short, they failed, swallowing roughly $5 trillion in fundraising as they sank into www dot oblivion. Fast forward to today, as The Wall Street Journal details in a new report, and that same gold rush energy is palpable in the burgeoning AI marketplace. VCs are all too happy to pour massive amounts of cash into a growing constellation of AI firms, even those that have yet to turn a profit. Or, for that matter, have yet to even introduce a discernible product. Company leaders, meanwhile, continue to make sweeping claims about the transformational power of their tech, which they consistently argue could save the world, destroy it, or — conveniently — both. Investors keep biting, and, per the WSJ, the stocks keep rising — shares of Nvidia, for example, the chipmaker whose GPUs are sought after for…AI Is Starting to Look Like the Dot Com Bubble