The A.I. Daily
WSJ column warns AI boom may repeat rail and fiber bubbles
WSJ columnist James Mackintosh argues AI may change the world without delivering the returns investors expect, warning the boom could echo the 1840s British railway bubble and the dot-com fiber buildout. Citing a Brookings report, Columbia Business School professor Stijn Van Nieuwerburgh estimates total US AI-related investment could reach $9 trillion by 2032, averaging 3.2% of GDP annually.