Bank of England on AI mania: ‘Stretched’ stock valuations ‘comparable to the peak of the dotcom bubble’

OpenAI CEO Sam Altman triggered a tech selloff in late August when he mentioned the word “bubble” in response to a reporter’s question. Two months—and several centibillion-dollar deal announcements later—Jeff Bezos was talking openly about markets being in some kind of an “industrial bubble,” while insisting that the explosion of investment in artificial intelligence infrastructure would be worth it in the future. Now the Bank of England is throwing around the B-word, albeit in the understated style typica ...