The AI boom is sustainable , three Wall Street analysts argue this morning in research notes. Productivity gains from AI are expected to far outweigh current spending, they say, and capital expenditure on data centers and chips remains robust.

Stop worrying about the bubble in AI—it’s sustainable, three Wall Street analysts from Goldman Sachs, JPMorgan, and Wedbush argued this morning in notes seen by Fortune .

Traders seem to agree—at least for now. Futures contracts for the tech-heavy Nasdaq 100 were up 55% this morning prior to the opening bell, after the index closed up 0.68% yesterday. The index is up 18% this year, despite worries that the AI boom bears a resemblance to the dot-com bubble of 2000.

Hemant Taneja, CEO of VC firm General Catalyst, was quoted in the Financial Time

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