Dalio and Burry are both calling a bubble, and the BIS has also stepped in with a warning. Shouldn't the AI narrative calm down?

Dalio warns that an AI bubble is forming, stating that great technological transformations often come with bubbles, and AI is no exception; companies may overspend or underinvest, leading to unfavorable returns. When the bubble bursts, paper currency may convert into real money. Burry also identifies a bubble, similar to the Internet bubble of the 1990s. BIS warns that if the AI boom fades, the global financial order may be impacted, and risks related to AI spending and private credit need to be watched.