The Globe and Mail reports in its Tuesday, Aug. 4, edition that given the recent surge in markets due to the artificial intelligence boom, concerns about a market bubble have been rising. The Globe's guest columnist Anwar Hussain writes that Nvidia has a market cap of $5-trillion (U.S.), and SpaceX is trading at 100 times revenue, drawing comparisons with the dot-com boom and crash. Although the two events share some characteristics, there are differences in the economics of the two. The late 1990s Internet bubble was fueled by unique factors, including vast hype from the industry and media. This led to inflated company valuations that far exceeded actual revenues. Cheap funding allowed venture-capital firms to invest in any company with a "dot-com" in its name, driving prices higher. However, the mismatch between valuations and revenue, combined with unproven business models, eventually resulted in the financial correction. In contrast, the AI boom we are experiencing has been driven by hardware developments such as GPUs and related computing power breakthroughs. The target market for AI companies is enterprise adoption of their technology in areas such as cloud, automation and other productivity improvements.