CNBC’s Jim Cramer pushed back against the notion that Wall Street’s enthusiasm for artificial intelligence is similar to the dotcom bubble of 2000. He notes that the current Big Tech stocks, including Google, Amazon, and Meta, are built on sound foundations and have a much higher quality than their dotcom counterparts.
Unlike in 2000 when nearly all dotcoms went under due to poor investments, Cramer believes that even if Google and Amazon make bad investments, it’s just another day at the office. He attributes this confidence to the fact that these companies are “developing a reputation for something different” from those of the past.
Cramer points out that most data centers are being built by these massive tech companies themselves, unlike in the dotcom era when outfits bought infrastructure and ended up in debt. However, he expresses concern over Oracle’s announcement to build data centers with funding from OpenAI, citing uncertainty about the source of this money.
Despite his confidence in Big Tech and AI, Cramer advises investors not to stop scrutinizing major stock moves and investments in the space. He believes that skepticism keeps things in check, preventing a repeat of the dotcom bubble scenario where everyone would be in the pool and potentially drowning.
Cramer is optimistic about the success of these companies as AI technology advances, but warns that caution is still necessary when evaluating their stock moves.
Source: https://www.cnbc.com/2025/09/29/jim-cramer-explains-why-he-thinks-the-ai-boom-is-different-than-the-dotcom-bubble.html