AI spending will continue for several years, says Freedom Capital's Paul Meeks

AI Investment & Spending - Aggressive spending on AI is expected to continue for several years, supported by strong balance sheets and cash flows [2] - Companies view first-mover advantage in AI as critical, driving continued investment [3] - Capital expenditure on AI buildout is massive, with potential payoff comparable to or exceeding the internet [4][5] - Heavy spending on AI is expected to continue through 2026-2027 [6] AI Impact & Future - AI is expected to be at least as impactful as the internet in the long term [6] - Increased productivity from AI will increase wealth, benefiting all [8] - AI will displace some jobs, such as software coding and telephone center positions [8] - College students should carefully consider their field of study in light of AI's impact [9] Skepticism & Risks - The current AI investment landscape is reminiscent of the internet bubble [2] - There is skepticism about the long-term sustainability of the current spending pace beyond 3-5 years [4] - Overestimation of near-term benefits and underestimation of long-term impact are potential risks [5]