The AI boom won’t burst all at once. It will pop in ‘rolling bubbles’: Macquarie

The AI investment boom is unlikely to end in a single dramatic crash; instead, Macquarie argues it will deflate through a series of “rolling bubbles” as different parts of the AI ecosystem surge and then lose steam.

Global AI-related investment is now running at about $850 billion in 2026, roughly $500 billion above the pre-AI trend, making it larger and faster than historic manias such as railways, canals, and the dot‑com boom, said Macquarie analyst Viktor Shvets in a report.

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