In a recent episode of Bloomberg’s Odd Lots podcast, GMO co-founder and long-term strategist Jeremy Grantham discusses the cues he associates with market bubbles and how they may relate to today’s enthusiasm around artificial intelligence. Grantham draws on his history of identifying past speculative periods, including the dot-com bubble in the early 2000s, which he notes some investors compare to current AI-driven excitement. In the conversation, he points to what he calls signs of “frothiness” in markets and discusses the types of indicators he watches to judge whether a bubble may be approaching its end. He also addresses how large technology companies—often grouped as “Mag 7”—are making major, multibillion-dollar investments in AI, framing it as a relevant development when assessing market risk. Grantham’s remarks include references to the broader shift toward shorter-term market focus, a theme he connects to his new memoir, The Making of a Permabear: The Perils of Long-Term Investing in a Short-Term World. Across the coverage, the central focus remains Grantham’s long-running framework for evaluating speculative momentum and potential bubble behavior.