If you see AI's impact as comparable to that of the internet, you might plausibly see AI stocks as overvalued now.
Taking median of 3 LLM estimates, tech sector firm value as % of world product was ~20% at dotcom peak, is ~32% today.
More context: same 3 LLMs give median estimates of tech sector grew x20 in 10yr before peak, while it has grown x5 in last 10yr.
If you see AI's impact as comparable to that of the internet, you might plausibly see AI stocks as overvalued now.
If you see AI's impact as comparable to that of the internet, you might plausibly see AI stocks as overvalued now.
Taking median of 3 LLM estimates, tech sector firm value as % of world product was ~20% at dotcom peak, is ~32% today.
Users are optimistic about AI surpassing the internet in efficiency and impact because self-improvement appears imminent.