Tech companies are betting billions on AI, driven by the vision of achieving artificial general intelligence and fear of being left behind. This surge has led to nearly $3 trillion in global investments, with $325 billion alone going toward data centers by year-end—much of it debt-financed. Experts warn the trend echoes the dot-com bubble, but with far greater systemic risks due to scale and reliance on borrowed money. Even industry leaders like Sam Altman acknowledge the hype may outpace reality, and if AI fails to deliver rapid returns, widespread defaults could threaten financial stability. While AI holds transformative promise in areas like healthcare and drug discovery, uncertainty remains over how quickly these benefits will materialize. Still, strong performances from key players like NVIDIA continue to bolster investor confidence in the sector’s long-term potential.