Shares of technology companies rose after a flight from risk Monday.
One strategist said parallels between the artificial-intelligence boom and the Dotcom era were apt, even as fears of an imminent crash were overstated.
"We're still in the early stages of it, if this was compared to the Internet, we are probably closer to '96 than we are to '99," said Eric Marshall, president of Dallas mutual-fund firm Hodges Capital.
Sam Altman, chief executive of ChatGPT owner OpenAI issued a call-to-arms to employees, following Google's breakthrough with the Alphabet company's updated Gemini chatbot, saying there was a "Code Red" to stay ahead of the competition.
In another challenge to the dominance of OpenAI and other first movers, Amazon Web Services launched its Trainium3 custom AI chip, which it said was four times as fast as its previous generation of AI. The company said Trainium3 could reduce the cost of training and operating AI models by up to 50% compared with incumbents.
AI will be a "disruptive" force, said Marshall. That could mean that current leaders in the development of the technology are disrupted by the emergence of competitors, Marshall said.
Michael and Susan Dell will donate $6.25 billion to expand the reach of a new government program that will provide savings accounts for millions of U.S. children.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
12-02-25 1737ET
