Cathie Wood Says Fears About an AI Bubble Are Overblown

Cathie Wood believes the market is in the early stages of a genuine technology revolution rather than a bubble about to burst.
She argues that capital spending had been stagnant for 25 years, leaving significant ground to make up, and expects the AI investment cycle to remain extended despite short-term volatility.
Wood also points to the semiconductor index closely tracking a leading indicator: an LLM token expenditure index shifted forward 15 months has historically been a good fit for where semiconductors move next. She says that relationship is currently driving fears in the semiconductor sector.