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Is an AI bubble brewing? Shiller PE Ratio nears levels seen before dot-com crash

The economic indicator known as the Shiller PE Ratio is almost as high as it was in November 1999, just before the dot-com bubble burst. Is another bubble forming with AI?

Copyright 2025 NPR

Paddy Hirsch
Darian Woods is a reporter and producer for The Indicator from Planet Money. He blends economics, journalism, and an ear for audio to tell stories that explain the global economy. He's reported on the time the world got together and solved a climate crisis, vaccine intellectual property explained through cake baking, and how Kit Kat bars reveal hidden economic forces.