Anthony Scaramucci, founder of SkyBridge Capital, believes that artificial intelligence (AI) stocks may be experiencing a bubble, but advises long-term investors to consider owning some.
Scaramucci shared his thoughts on BNN Bloomberg Television in Toronto on June 30, 2023. He acknowledged the presence of “boom-bust cycles” within the tech industry and suggested that AI might currently be in a bubble. Nonetheless, he emphasized that there are high-quality AI companies worth investing in.
Highlighting Nvidia as an example, Scaramucci noted the significant surge in its stock price by 179% this year. While some investors perceive Nvidia as overvalued, Scaramucci views it as a promising long-term investment.
Scaramucci’s comments contribute to the ongoing debate surrounding whether AI stocks are in a bubble. Certain investors argue that AI stock prices are excessively high and anticipate a correction. Others maintain that the long-term potential of AI justifies the current valuations.
Ultimately, the decision to invest in AI stocks is a personal one, and investors should carefully assess their own risk tolerance and investment objectives before making a choice.
