AI's Bar Mitzvah moment: Aswath Damodaran explains what AI means for businesses

Aswath Damodaran says AI’s investment debate should shift from hype and skepticism toward evaluating it as a business. He argues revolutionary technologies follow four stages: hype, investment, business building and recalibration. AI is entering the business-building phase, with revenues emerging but profitability uncertain. Significant disruption and market corrections remain possible.