# Billionaire CEO Calls AI 'Biggest Bubble'

> AI bubble risks grow as CEO urges investors to keep buying during market melt-up.
- Title: Billionaire CEO Calls AI 'Biggest Bubble' · 24/7 Wall St.
- Summary: AI bubble risks grow as CEO urges investors to keep buying during market melt-up. Mike Novogratz says AI is the biggest bubble of his lifetime but urges…
- Keywords: mike novogratz, galaxy digital, ai bubble, melt-up, nvidia, s&p 500, nvidia earnings, market rally, Billionaire, CEO, Calls, 'Biggest
- Source: 24/7 Wall St. — https://247wallst.com/investing/2026/10/19/billionaire-ceo-ai-is-the-biggest-bubble-of-our-lifetime-but-investors-should-keep-buying-during-the-melt-up
- Author: AJ Tiarsmith
- Published: 2026-10-19T14:14:21+00:00
- Read time: 1 min
- Topics: mike novogratz, galaxy digital, ai bubble, melt-up, nvidia, s&p 500, nvidia earnings, market rally
## CEO Calls AI Biggest Bubble
Mike Novogratz, founder and CEO of Galaxy Digital, says AI is the biggest bubble of his lifetime.

> the biggest bubble of our lifetime
## Market Conditions in Early October
AI-linked gains pushed the S&P 500 to a record and NVIDIA approached $6 trillion market value.
## Why Novogratz Says Bubble Still Has Room
AI stocks look cheap on price-to-earnings basis with rising borrowing costs as a headwind.
## U.S. and China Competition on AI
U.S. and China competition makes regulators unlikely to slow AI development.
## Melt-Up Numbers Behind AI Trade
NVIDIA reported $96.22B revenue with 105.8% YoY growth and guided to $108.0B for Q3.
## 1997 Comparison and Warning Signs
Novogratz compares current market to 1997 with no clear peak and tracks stocks, dollar, bonds, and foreign selling.
## Skeptics and Believers on AI Bubble
Ray Dalio warns AI bubble could collapse while DBS and Gavin Baker argue against selling.
## What Changed Since Panel
September CPI report showed prices up 3.7% with S&P 500 falling 0.95% and NVIDIA down 6.05%.
## Key takeaway

Mike Novogratz says AI is the biggest bubble of his lifetime but urges investors to keep buying during the current market melt-up.