While it’s tempting to compare the current excitement around AI to the dot-com bubble of 2000, it would be wrong to draw too many parallels, says Brad Holland

As one market reporter quipped in Summer 2000: ‘pity the poor technology investor’. After the past fortnight’s trimming of US financial markets, some might think this observation has proven itself to be enduring.

It was 25 years ago this week when the Nasdaq surpassed 5,000 points for the first time, amounting to a 24 per cent gain since the start of the millennium. In the days and months afterwards, the Nasdaq saw heavy losses mount as the stock price of the internet technology stars of the late 1990s fell significantly.

By November that year, the index had fallen below 3,000 points. Profit-taking, nose-diving investor........

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