Federal Reserve Chair Jerome Powell said Wednesday he did not believe the massive growth in artificial intelligence (AI) investment and spending was a bubble.

At a press conference following the Fed's latest rate cut, Powell contrasted the explosive growth of AI companies with the dot-com bubble of the 2000s.

"This is different," Powell said, explaining that leading AI companies actually have a track record to show for their sky-high valuations, unlike the scores of firms that went........

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