Legendary Investor Jeremy Grantham Predicts Stock Market Crash and AI Bubble Burst by 2024

The article discusses legendary investor Jeremy Grantham’s prediction of a stock market crash and the bursting of an AI bubble by 2024. Grantham, the co-founder of GMO, believes that the current hype around artificial intelligence (AI) is creating a speculative bubble similar to the dot-com bubble of the late 1990s. He warns that the AI bubble will eventually burst, leading to a significant market downturn. Grantham cites the rapid rise in valuations of AI-related companies and the excessive enthusiasm surrounding the technology as signs of a bubble. He also points to the potential for AI to disrupt various industries, leading to job losses and economic disruption. While acknowledging the transformative potential of AI, Grantham cautions against irrational exuberance and urges investors to exercise caution. He predicts that the AI bubble will burst by 2024, potentially triggering a broader market crash.

Source: https://markets.businessinsider.com/news/stocks/stock-market-crash-prediction-ai-artificial-intelligence-bubble-jeremy-grantham-2024-10