# AI Boom = 1999 Capex and 2008 Credit

> Source: <https://www.realclearmarkets.com/2026/07/30/ai_boom__1999_capex__2008_credit_1197590.html>
> Published: 2026-07-31 01:45:36+00:00

# AI Boom = 1999 Capex + 2008 Credit

I wrote in the past that the AI rollout feels a lot like déjà vu of the 1999 telecom bubble. Today's AI bubble has elements of both the 1999 overinvestment in internet infrastructure and the 2008 collapse of financial instruments that infected the banking and financial system.

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