A booming stock market, enormous IPOs, debt-financed investment.
The artificial intelligence boom is driving everything in financial markets at the moment.
But change in the real economy has been slower,
and past tech booms have often brought about financial busts.
So will the AI mania end in vindication or despair?
I'm Henry Curr, and this is Inside Economics.
I'm delighted to be joined in the studio by Josh Roberts, our capital markets correspondent.
Hi, Josh.
Hi, Henry.
And down the line, as usual, we have Mike Bird in New York,
our Wall Street editor.
Hi, Mike.
Hey, Henry.
So we're going to look at three questions today.
One, how big is this mania?
Two, what do investors need to happen to justify what they're betting on?
And three, how might it all go wrong?
So let's start with the mania.
And I think a good place to start is the IPOs, because what we're seeing
in terms of AI IPOs this year is extraordinary.