Nokia CEO compares AI surge to 1990s internet boom, but plays down bubble fears

Nokia’s CEO Justin Hotard said artificial intelligence is driving a long-term growth trend that resembles the internet boom of the 1990s, but downplayed concerns about a potential bubble.

Hotard’s remarks come amid growing debate over whether the surge in AI investment is sustainable.

“I fundamentally think we’re at the front end of an AI supercycle, much like the 1990s with the internet,” Hotard said in an interview with Reuters. “Even if there’s a bubble, a trough, we’ll look to the longer-term trends. And right now, all those trends are very favourable.”