Citigroup economist Dirk Willer believes that the market rally sparked by artificial‑intelligence (AI) could keep pulling in gains for a while longer. “The AI bubble is not over yet” he told the Handelsblatt Invest podcast on Wednesday.

Willer, who watched the dot‑com bubble firsthand in early‑2000s New York, says the same pattern of over‑exuberance is likely to re‑appear. “The more impressive the technology, the more people over‑invest” he explained.

Given the massive AI spend by the biggest U.S. tech firms, investors are understandably seeking greater diversification. Yet he cautions, “If a tech bubble bursts, almost all assets will fall” underscoring the broad market risk should the hype lose steam.