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Experts Warn AI Bubble Could Trigger Worst Financial Crisis in Nearly a Century

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Economist Jim Rickards, former CIA and Pentagon adviser, warns the US faces an AI-driven economic crisis potentially more severe than the dot-com crash, the 2008 financial meltdown, and pandemic-era market collapses combined. Veteran investor Jeremy Grantham and former SEC Chairman Gary Gensler have echoed these concerns, with Gensler stating the next financial crisis will originate from AI. The current AI bubble is estimated to be 17 times larger than the dot-com bubble, with companies like OpenAI reportedly spending three dollars for every dollar earned and losing over a billion dollars monthly. Analysts have drawn parallels to the 2008 subprime mortgage crisis, noting that debt used to finance AI data centers is being repackaged into securities and sold to pension funds, mirroring dangerous pre-2008 financial engineering. Additional concerns include circular financing that artificially inflates demand and mounting physical limits on GPU performance and data center energy consumption.

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