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Billionaire Ken Griffin Draws Parallels Between AI Boom and Dot-Com Bubble, While Maintaining Stakes in Key AI Players
Billionaire Ken Griffin Draws Parallels Between AI Boom and Dot-Com Bubble, While Maintaining Stakes in Key AI Players
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The S&P 500 has surged 72% since ChatGPT's November 2022 debut, with AI stocks driving 75% of returns, 80% of earnings growth, and 90% of capital spending growth. Citadel's Ken Griffin warns of "echoes of the dot-com bubble" while paradoxically accumulating major positions in Core AI companies.
Market strategist Michael Cembalest notes AI's disproportionate impact on market performance. Griffin's hedge fund has doubled down on AI equities despite his cautionary tone, mirroring the late-1990s pattern where tech investors simultaneously voiced concerns while increasing exposures.
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