Paul Tudor Jones is buying more AI stocks, betting the bull market has 40% more to run before a “breathtaking” correction.
Speaking on CNBC’s “Squawk Box” this morning, the Tudor Investment Corp founder compared the AI run to the late-1990s dot-com rally and said one Federal Reserve parallel may keep stocks ramping into next year.
Jones Compares AI Run To 1999
Jones said he buys AI stocks in baskets rather than picking single names, framing the cycle as a productivity miracle on par with widespread PC adoption in the early 1980s and the commercialization of the internet in the mid-1990s.
He pegged the January launch of Claude Code, the developer agent from privately held Anthropic, as the modern equivalent of Microsoft Corp (NASDAQ:MSFT)‘s PC release in 1981, when commercial adoption hit critical mass.
Past productivity cycles ran four to five-and-a-half years, putting the AI rally roughly 50% to 60% through.
The closer analog, Jones said, is fall 1999.
Multiples and …
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