Valuations of artificial intelligence are soaring, sometimes without profitability to support them. Voices are rising, recalling the excesses of the 2000 Internet bubble. Disproportionate weight of sector giants in indices, massive investments, widespread enthusiasm: signs of a possible overheating are accumulating. In this climate of euphoria, a question reemerges: is AI the engine of a new economic era or that of a speculative bubble ready to burst?