Is the current AI hype basically the dot com bubble 2.0 or is this fundamentally different?

So everyone's piling into AI plays right now the same way people piled into “.com” stocks in the late 90s. You’ve got massive multiples, retail FOMO and and valuations that seem pretty detached from near term fundamentals.

At the same time, AI is already generating real revenue and real enterprise adoption. Nvidia isn’t Pets.com.

So what’s the better comparison here? A bubble that ends the same way dot-com did, just with better companies surviving or a legitimate platform shift like the internet itself? Or something in between, where we get a violent reset but AI still changes everything long term?