Jun 25, 2026 · 33 min · 9 segments
This week on Exchanges, we sit down with Peter Petrov about the state of AI investment and whether the boom we're living through is built to last. Drawing comparisons to past market bubbles including…
Peter PetrovGuestEvan LucasHostThe market has been trying to invest into this space very, very strongly since 2023.
Do you feel that the investment, particularly over the last two and a half, three years, is now getting a little bit bubbly or are we still at the very infancy of the AI revolution and the general investment that it's going to create?
I hope it will be a quite nice discussion in the coming few minutes about the environment, about the market in general.
I would like to try to lay out my whole framework of thinking about the current situation and how how AI investing will work out in the future.
But like for me personally, the way how I try to tackle this topic is more like trying to see certain historical comparative situations in the last 30 years.
And I would like to kind of like throughout the discussion that we're going to have, I would like to kind of also give examples from back in the, like the time in the late 90s, like the dot-com bubble, which ended up like in early 2000.
And also I'll talk, I'll also give some examples from the 2010s, like the last decade.
And because like, I mean, we also see like kind of like a economic, uh, and like investing in, like in AI, in that, in, in, in investing in tech in general, like for example, like in the, in the 999, like 999 during the dot-com bubble, like of course we know what happened.
And then like during the 2010s, we saw like increased investing in, in software stocks.
So if I have to answer the question, like, is, are we going to a bubbly territory? I would say.
And I think that's probably a very kind of like probably you can hear this answer quite often.
Because I tried to dig some deeper into history, like back in those periods, like late 90s and like 2010s.
And I tried to see certain elements and I want to see if I see them here in our current stage of investing.
And if I have to compare purely, because people often compare the dot-com bubble with nowadays.
And if I want to compare it purely like that period versus now, I would say back then it was much worse like the situation back there was pretty kind of like uncontrolled because like I think I'll mention several factors first of all like Nowadays, with all these major AI players, there is actually quite...
Again, we can observe that we have companies that are stronger financially than 30 years ago, than in the beginning of the millennium.
The market has been trying to invest into this space very, very strongly since 2023.
Do you feel that the investment, particularly over the last two and a half, three years, is now getting a little bit bubbly or are we still at the very infancy of the AI revolution and the general investment that it's going to create?
I hope it will be a quite nice discussion in the coming few minutes about the environment, about the market in general.
I would like to try to lay out my whole framework of thinking about the current situation and how how AI investing will work out in the future.
But like for me personally, the way how I try to tackle this topic is more like trying to see certain historical comparative situations in the last 30 years.
And I would like to kind of like throughout the discussion that we're going to have, I would like to kind of also give examples from back in the, like the time in the late 90s, like the dot-com bubble, which ended up like in early 2000.
And also I'll talk, I'll also give some examples from the 2010s, like the last decade.
And because like, I mean, we also see like kind of like a economic, uh, and like investing in, like in AI, in that, in, in, in investing in tech in general, like for example, like in the, in the 999, like 999 during the dot-com bubble, like of course we know what happened.
And then like during the 2010s, we saw like increased investing in, in software stocks.
So if I have to answer the question, like, is, are we going to a bubbly territory? I would say.
And I think that's probably a very kind of like probably you can hear this answer quite often.
Because I tried to dig some deeper into history, like back in those periods, like late 90s and like 2010s.
And I tried to see certain elements and I want to see if I see them here in our current stage of investing.
And if I have to compare purely, because people often compare the dot-com bubble with nowadays.
And if I want to compare it purely like that period versus now, I would say back then it was much worse like the situation back there was pretty kind of like uncontrolled because like I think I'll mention several factors first of all like Nowadays, with all these major AI players, there is actually quite...
Again, we can observe that we have companies that are stronger financially than 30 years ago, than in the beginning of the millennium.
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