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Why the AI boom is not a dotcom redux

The simulation of human intelligence in machines has dramatic potential to change the way the economy works

    • Solar panels at the Nvidia headquarters in Santa Clara, California. As the AI frenzy boosts demand for processors that can accelerate computing, the company has made a huge killing this year.
    • Solar panels at the Nvidia headquarters in Santa Clara, California. As the AI frenzy boosts demand for processors that can accelerate computing, the company has made a huge killing this year. PHOTO: BLOOMBERG

    John Plender

    Published Tue, Jun 6, 2023 · 05:34 PM

    THE media hype over artificial intelligence (AI) since Microsoft announced its investment in ChatGPT in January inevitably calls to mind the excesses of the dotcom bubble.

    The sense of deja vu was reinforced last week as the market capitalisation of Nvidia, whose chips power AI applications at ChatGPT, among others, briefly topped US$1 trillion. So is it a case of here we go again?

    In fact, no. There is much about this AI buzz in the markets that is healthy.

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