Is the AI stock boom a dot-com-style bubble? David Rosenberg, Jeremy Siegel, and 5 other experts weigh in.

A trader works on the floor of the New York Stock Exchange December 4, 2014. REUTERS/Brendan McDermid

Experts including David Rosenberg and analysts from Wall Street banks including Bank of America have compared the AI stock boom to the dot-com bubble that burst in 2000.

At the same time, Wharton’s Jeremy Siegel and Wedbush Securities’ Dan Ives don’t think that will be the case.

Here’s a selection of the most recent expert views on this year’s AI stock boom.

The stunning rally in artificial intelligence-related stocks this year surprised even equity bulls, but its breakneck speed and the investor frenzy around AI are inviting some unflattering comparisons to the late-1990s dot-com bubble.

Market pundits including veteran economist David Rosenberg and experts from Wall Street names such as Bank of America, UBS and TAM Asset Management have likened the surge in AI tech shares to the boom in internet-related stocks toward the end of the 20th century – which eventually ended with the market crash of 2000.

The tech-heavy Nasdaq 100 index has jumped 39% so far this year, fueled mainly by massive rallies in AI-related stocks such as Nvidia, Alphabet and Microsoft. Nvidia surged a stunning 192%, prompting some commentary suggesting the stock may be overvalued.

But not everyone thinks the AI stock boom has run too far. Wharton professor Jeremy Siegel has said he doesn’t see the hype around the sector as a bubble and Tradier CEO Dan Raju told Insider that “the talk around an AI bust is unfounded at this stage.”

Here’s a selection of the latest expert views on the surge in artificial intelligence-related shares.

Michael Hartnett, Bank of America

Michael Hartnett, BofA Global Research’s CIO, said AI is in a “baby bubble” for now and noted that “AI = internet.”

Asset bubbles, whether they’re in the “right things” such as the internet or the “wrong things” like housing, are always started by easy money and are ended by the Federal Reserve’s interest-rate hikes, he said.

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