Another factor is that the absolute size of the boom (or bubble) is somewhat smaller than it appears if you just look at dollar-denominated increases in the value of stocks.
Stocks are denominated in dollars, and the value of a dollar has fallen substantially in real terms in the last couple of years, in large part due to tariffs (or uncertainty created by tariffs) and inflation. These are mostly independent effects from each other and the AI boom, and neither is particularly good for stimulating actual healthy economic growth, but they could soften the effect of any future bubble popping, because there is less actual growth / bubble to pop than what it looks like if you just look at returns in nominal terms.
Another factor is that the absolute size of the boom (or bubble) is somewhat smaller than it appears if you just look at dollar-denominated increases in the value of stocks.
Stocks are denominated in dollars, and the value of a dollar has fallen substantially in real terms in the last couple of years, in large part due to tariffs (or uncertainty created by tariffs) and inflation. These are mostly independent effects from each other and the AI boom, and neither is particularly good for stimulating actual healthy economic growth, but they could soften the effect of any future bubble popping, because there is less actual growth / bubble to pop than what it looks like if you just look at returns in nominal terms.