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.