The AI Mania Feels Like 1999 All Over Again I see unmistakable parallels between today’s AI infrastructure frenzy and the dot-com bubble of the late 1990s. Billions of dollars are pouring into data centers, GPU purchases, and speculative startups with no clear path to revenue, let alone profit. As Chris Martenson noted in his piece “Déjà Vu All Over Again,” what was sold as a “new era” of limitless growth is starting to look like every other speculative mania. Companies are spending tens of billions on data centers and chips, but many of those facilities sit empty, waiting for power…
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