IMF economist warns AI boom may echo dot-com bust but unlikely to trigger financial crisis

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The U.S. artificial intelligence investment boom could end in a dot-com-style market correction, but it is unlikely to spark a systemic financial crisis, according to Pierre-Olivier Gourinchas, chief economist at the International Monetary Fund (IMF).

Speaking at the start of the IMF and World Bank annual meetings in Washington, Gourinchas told Reuters that the AI frenzy mirrors the late 1990s internet bubble, with surging stock valuations and paper wealth driving consumption and inflation. “This is not financed by debt,” he said, adding that a potential crash would hurt shareholders and equity holders, but not destabilize the broader banking system.

The IMF said investment in AI chips, data centers, and computing infrastructure has fueled optimism about future productivity gains, though these benefits have yet to materialize. Unlike the dot-com era — when technology investment jumped 1.2% of U.S. GDP between 1995 and 2000 — AI-related spending has so far increased by only 0.4% of GDP since 2022.

While the IMF does not expect a direct threat to financial stability, Gourinchas cautioned that a correction could trigger a broader repricing of assets and stress on non-bank financial institutions.

The IMF’s latest World Economic Outlook noted that AI investment, alongside lower-than-expected tariffs and easier financial conditions, has helped sustain global growth. However, Gourinchas warned that AI-driven spending and consumption could add to inflation pressures without corresponding productivity gains.

The IMF now projects U.S. inflation to ease more slowly, reaching 2.7% in 2025 and 2.4% in 2026, above the Federal Reserve’s 2% target. He added that the lingering effects of tariffs and reduced immigration are constraining supply and keeping prices elevated.

Spotify and Netflix strike deal to stream popular video podcasts starting 2026

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Netflix and Spotify have announced a new distribution partnership that will bring some of Spotify’s most popular video podcasts to Netflix’s platform starting in early 2026. The move aims to expand Netflix’s entertainment portfolio and give Spotify creators access to a broader global audience.

The initial lineup will feature hit shows including “The Dave Chang Show,” “The Bill Simmons Podcast,” “The Rewatchables,” “The Big Picture,” “The Zach Lowe Show,” and “Serial Killers.” However, “The Joe Rogan Experience”, Spotify’s most-streamed podcast globally, will not be part of the deal.

Netflix said the collaboration reflects its push to diversify beyond scripted series, films, and reality programming, as video podcasts become an increasingly popular format among younger viewers. “Our partnership with Spotify allows us to bring full video versions of these top shows to both Netflix and Spotify audiences,” said Lauren Smith, vice president of content licensing and programming strategy at Netflix.

For Spotify, the tie-up provides an opportunity to extend the reach of its creators by leveraging Netflix’s vast global subscriber base. “This offers more choice to creators and unlocks a completely new distribution opportunity,” said Roman Wasenmüller, Spotify’s vice president and head of podcasts.

The new feature will launch in the United States first, followed by an international rollout, with no financial details disclosed.

Salesforce expands AI partnerships with OpenAI and Anthropic for Agentforce 360

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Salesforce has announced expanded partnerships with OpenAI and Anthropic to integrate their most advanced AI models into the company’s new Agentforce 360 platform, deepening its commitment to delivering enterprise-grade AI tools for businesses and regulated industries.

Under the agreements unveiled on Tuesday, OpenAI’s GPT-5 and Anthropic’s Claude models will be embedded directly into Salesforce’s ecosystem. This integration allows employees and consumers to access customer data, analytics, and automation tools seamlessly within ChatGPT, Slack, and Salesforce applications.

The partnerships position Agentforce 360, launched globally this week, as a central hub for AI agents, enabling companies to create, deploy, and manage AI workflows across their entire organizations. Salesforce said the initiative reflects a growing demand for secure, compliant generative AI in sectors such as finance, healthcare, and cybersecurity.

The collaboration with OpenAI will allow users to work with Salesforce data and build Tableau visualizations directly within ChatGPT, while a new Agentforce Commerce feature will let merchants sell products through ChatGPT’s Instant Checkout, maintaining full control of data and fulfillment.

Meanwhile, Anthropic’s Claude family of models will power AI solutions tailored for regulated industries and will be integrated more deeply into Slack and Salesforce’s own cloud infrastructure to ensure security and compliance.