dot-com bubble

words.Jim Cramer likened today’s OpenAI frenzy to the 1999‑2000 dot‑com bubble, warning that speculative “everything‑AI” optimism could trigger a sharp pull‑back. He, along with investors like Michael Burry, cautions that OpenAI’s leveraged financing, reliance on backstop funding, and the broader AI ecosystem’s inflated valuations create systemic risk. Added pressures include tightening regulation, fierce competition from rivals such as Anthropic and DeepMind, and overlapping hype in quantum computing and next‑gen hardware. While AI’s long‑term promise remains, investors should temper enthusiasm with disciplined risk assessment.