Echoes of dotcom bubble haunt AI-driven US stock market

A US stock rally supercharged by excitement over artificial intelligence is drawing comparisons with the dotcom bubble two decades ago, raising the question of whether prices have again been inflated by optimism over a revolutionary technology.

AI fever, coupled with a resilient economy and stronger earnings, has lifted the S&P 500 index (.SPX) to fresh records this year following a run of more than 50 per cent from its October 2022 low. The tech-heavy Nasdaq Composite index (.IXIC)...