AI boom looks healthier than dot-com era, investor Wick says
QQQ•Seligman Investments’ Paul Wick said strong enterprise spending and limited IPO speculation make the AI boom look healthier than the dot-com era. He also warned that open-source adoption and customer-built systems could pressure token prices and model developers’ margins.
1. AI boom and risks
Paul Wick of Seligman Investments said enterprise spending remains strong and limited IPO speculation distinguishes the current AI market from 2000. He said open-source adoption and customer-built systems could pressure token prices and margins at providers such as OpenAI and Anthropic. Wick also said Nvidia’s investments in customers could expand demand, while raising questions about whether spending reflects independent demand or supplier financing; strong AI demand does not guarantee adequate data-center returns or sustainable premium pricing for model developers.
