CNBC's Jim Cramer said Thursday that OpenAI reminds him of the kind of speculation and leveraged, aggressive bets that caused the 1990s dot-com bubble to burst. "OpenAI is 2000 in a nutshell," Cramer said on "Squawk on the Street," comparing the current everything-AI-mentality to the everything-internet that got the market in trouble roughly 25 years ago. The Nasdaq seemed unstoppable in the late 1990s, reaching all-time highs in March 2000. When it all came apart, the tech-heavy index lost nearly 80% over roughly 2½ years, bottoming in October 2022. The Nasdaq took about 15 years to return to record highs. There have been endless comparisons to that dark time and predictions that history might be about to repeat itself. "The Big Short" investor Michael Burry recently said the AI-driven ma
Jim Cramer warns that OpenAI is the year 2000 in a nutshell
CNBC2 hrs ago
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