Are we in an AI bubble, or at the early stages of the most consequential technology shift of our lifetime? In this episode of AI First with Adam and Andy, Adam Brotman and Andy Sack unpack the tension executives are feeling as AI investment, valuations, and infrastructure spending accelerate at historic speed.

They explore why AI can feel both economically fragile and fundamentally real at the same time, drawing comparisons to the dot-com era while highlighting critical differences, including unprecedented usage growth, enterprise demand, and near-term impact. The conversation examines hyperscaler investment, competing research on AI ROI, market sensitivity to headlines, and what makes AI adoption feel less speculative than past technology cycles.

For business leaders navigating strategy, capital allocation, and workforce implications, this episode offers a clear-eyed perspective on risk, opportunity, and why long-term conviction in AI does not eliminate short-term uncertainty.