So are we in an AI bubble? Here are clues to look for.

我们是否身处人工智能泡沫之中?以下是一些值得关注的现象。

Planet Money

2026-01-10

24 分钟
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单集简介 ...

Are we in an AI bubble? That’s the $35 trillion dollar question right now as the stock market soars higher and higher. The problem is that bubbles are famously hard to spot. But some economists say they may have found some telltale clues. On our latest: How do economists detect a bubble? And, how much should society be worried about bubbles in the first place?  Related shows: - How to make $35 trillion ... disappear -What is a bubble? (featuring Nobel prize winning economics Eugene Fama and Robert Shiller) -What AI data centers are doing to your electric bill Pre-order the Planet Money book and get a free gift. / Subscribe to Planet Money+ Listen free: Apple Podcasts, Spotify, the NPR app or anywhere you get podcasts. Facebook / Instagram / TikTok / Our weekly Newsletter. This episode was produced by Willa Rubin and edited by Marianne McCune. It was fact-checked by Sierra Juarez and engineered by Cena Loffredo and Robert Rodriguez. Alex Goldmark is our executive producer. Music: NPR Source Audio - “The best is yet to come,” “Marsh mellow,” and “Sunshine beat” Learn more about sponsor message choices: podcastchoices.com/adchoices NPR Privacy Policy
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  • This is Planet Money from NPR.

  • Jeff,

  • you have summoned me here today because I understand you have a question for me about the economy.

  • Yes, it's the million dollar question right now.

  • What do you got?

  • Are we in a bubble?

  • That's like a several trillion dollar question, I think.

  • Look at the stock market right now.

  • The S&P 500 is up almost 50% over the last two years.

  • Yes, it is absolutely bonkers.

  • Bonkers!

  • And what is even more wild is that

  • if you look at what companies are mostly responsible for that growth,

  • it's just a handful of them.

  • It's the companies doing AI stuff.

  • Yes, all this AI stuff like Microsoft and Amazon and Meta.

  • People are calling them the Magnificent Seven.

  • Yes, and we would be remiss if we did not mention NVIDIA.

  • NVIDIA, of course, is the microchip company that's powering all this stuff,

  • and its stock price, I think it has almost quadrupled over the past two years.