Skip the AI FOMO, cash in where no one’s looking: Bernstein backs old-school payouts and warns AI may be the next dot-com bubble

Richard Bernstein, Chief Investment Officer at Richard Bernstein Advisors, sees too much heat in the artificial intelligence trade. In a note dated 30 June, he drew a sharp line between today’s AI rush and earlier booms that went too far.

“Investors seem universally focused on ‘AI’, which seems eerily similar to the ‘.com’ stocks of the Technology Bubble and the ‘tronics’ craze of the 1960s,” Bernstein wrote. He added that while AI dominates headlines, “we see lots of attractive, admittedly boring, dividend-paying themes.”