AI bubble

Bubble graphics depicting circular investments by AI companies that became popular in October 2025. Some market analysts have questioned the investment structure of the AI industry due to profitability and cash flow issues for major AI companies.

The AI bubble is a concept that asserts there is a stock market bubble growing since 2025 amid the AI boom, a period of rapid increase in investment in artificial intelligence (AI) that is affecting the broader economy. Speculation about a bubble largely originates from concerns that leading AI tech firms are involved in a circular flow of investments that are artificially inflating the value of their stocks. Some, like Ray Dalio, see similarities with the dot-com bubble of the 1990s and 2000s.