Analyst Henrik Zeberg warns of historic AI investment bubble

Financial analyst Henrik Zeberg warned on October 1, 2026, that the current AI boom represents the largest speculative investment bubble in U.S. history. Zeberg argues that while the technology's potential is real, current market valuations are disconnected from the reality of economic adoption. He compares the current cycle to historical bubbles like the 1929 electrification and the 2000 telecom crisis, suggesting that investors are paying too much, too soon, for a future that will take years or decades to fully materialize.