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总结
多家海外媒体围绕“AI是否形成泡沫”展开对比与解读。报道以英国《金融时报》对历史泡沫的对照为线索，指出AI热潮在资本市场推动下出现估值快速抬升与投资集中，但与以往投机浪潮相比仍存在差异：部分增长来自算力与软件落地、企业真实收入与效率提升预期。商业媒体引述华尔街人士讨论在泡沫担忧上升时的配置思路；公共媒体与科普媒体则关注若需求、盈利兑现不及预期，可能触发估值回撤。整体反映投资者一边警惕风险，一边继续押注AI赛道，潜在影响为市场波动加大与资金流向再平衡。
正文
How the AI 'bubble' compares to history Financial Times Where to invest $10,000 as AI-bubble fears mount, according to 8 Wall Street pros Business Insider What's next for AI and has its explosive growth in 2025 created a bubble? PBS Investors know about the AI bubble. They're buying AI stock anyway. USA Today We might finally know what will burst the AI bubble BBC Science Focus Magazine
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