The dot-com bubble did burst. And everything in it (large companies like Microsoft at least) grew exponentially afterwards (and a lot of smaller companies couldn't compete and died off).
I believe that unless you are nearing retirement, the AI bubble bursting should not be a concern for you. Even if it does happen, the productivity increases that AI provide will likely catapult human progress forward... and the large companies will once again grow exponentially.
So to be on the safer side, I am putting most of my money where history has shown decades of success, and some of it on riskier bets for the love of investing.
That is my take on the matter. What's yours?