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Search fieldHome page Seeking Alpha - Power to InvestorsSearch for Symbols, analysts, keywordsAbout PremiumCreate free accountLog in AI boom echoes 1997 Asian financial crisis: SocGen's Albert Edwards Oct 11, 2026, 6:22 PM ETS&P 500 Index (SP500), DJI, COMP:INDBy : Rob Williams, SA News Editor Société Générale strategist Albert Edwards is drawing parallels between the artificial intelligence investment boom and the economic bubble that preceded the 1997 Asian financial crisis. He warns that massive capital spending may be masking weak productivity gains, raising questions about whether the To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser. Is this happening to you frequently? Please report it on our feedback forum. If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh. Search fieldEntering text into the input field will update the search result below Quick Insights So far, massive AI capital spending has not translated into significant U.S. total factor productivity growth, raising doubts about immediate efficiency gains. Edwards sees similarities in rapid capital spending and optimistic growth expectations masking weak productivity, suggesting past boom-bust risks could be relevant. Bond investors face the risk of rising borrowing costs across major economies, while equity investors risk the rally fading if AI spending fails to deliver expected productivity improvements.
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