No bubble and no impact.

"Today's market isn't remotely like the dot-com bubble market was," Allan Sloan said at Yahoo Finance. A recent survey found that the experts are nearly split on whether AI stocks are in a bubble: 40% said yes, while 45% said no. If AI stocks are "high priced" today, tech stocks were "insanely priced" a generation ago. That means the fall won't be as steep. But there might still be a fall. "There may be some difficult times ahead for investors."

That fall may not come soon, though. "The generative AI stock bubble isn't popping anytime soon," Peter Cohan said at Forbes. The dot-com bubble burst after about five years while we're less than two years into the AI era. "Underlying demand for generative AI is in its early stages" and will continue to grow if companies that use AI tools see "tangible" benefits. "It could take years before the current bubble ultimately implodes."