🚨 Is the AI boom echoing 1999? 🚨

Pam Pinckney · 2026-08-25T18:24:17.753Z

Back in June, when Centene announced major layoffs, my team and I talked about where the broader economic momentum might be heading. Now, JPMorgan strategists are calling attention to a classic late-90s signal flashing in the markets right now. 📉 Here’s what’s happening: 🔹 Hardware vs. Spenders: Chip and memory makers have surged, but massive AI spenders (like Microsoft and Meta) are pulling back as investors question when these hundreds of billions in AI spending will translate to real returns. 🔹 1999 Parallel: JPMorgan notes this exact split happened right before the dot-com bubble burst—when infrastructure suppliers boomed while the companies buying the tech started slumping. 🔹 The Big Question: With hyperscalers on pace to spend $725B on AI capex this year, will monetization catch up, or are we looking at a sharp market correction heading into the fall? What’s your take: are we witnessing a temporary market rotation, or is the AI bubble starting to show real cracks? Drop your thoughts below! 👇

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