The billionaire hedge fund manager Paul Tudor Jones – famous for making a fortune by predicting the 1987 crash – recently revealed that he believes both that the artificial intelligence (AI) bull market has more space ahead, but also implied it has an end date.
Specifically, the Tudor Investment founder and chief investment officer (CIO) compared Anthropic in 2026 to Microsoft (NASDAQ: MSFT) in 1981 but swiftly pivoted to discussing the Dot-com bubble.
Indeed, the billionaire estimated that the current phase of the AI bull market is akin to the proliferation of the Windows 95 operating system, simultaneously implying that there is more growth ahead, but also that there is a major crash somewhere down the road, per a May 7 CNBC report.
Additionally, while Paul Tudor Jones was reluctant to provide his expected timetable, he estimated the stock market is about 50% to 60% into the boom and that the AI bull run could thus run for another year or two: up until 2027 or 2028.
Are AI bulls or bears prevailing in 2026?
Indeed, the debate whether there is an AI boom or an AI bubble has become increasingly apparent in the 2026 stock market, with a wide gap in performance between the equity of different companies involved with technology.
For some winners of recent years – such as Nvidia (NASDAQ: NVDA) – it can easily be argued that traders have gauged that, for the time being, a valuation close to $5 trillion is close to near-term limitations.
A similar case is more difficult to make for companies like Microsoft, which appears to be actively penalized for its reliance on OpenAI: the company that arguably kickstarted the boom.
And yet, while MSFT stock is down 12.51% in 2026, companies like SanDisk (NASDAQ: SNDK) soared 401%, highlighting that the AI-driven bull market is far from over.
Still, it is difficult to escape the notion that investors have more confidence in companies that can sell their products to artificial intelligence firms than in AI.
Additionally, considering that both OpenAI and Anthropic have signalled 2028-2030 as the first years they might turn genuinely profitable, the timeframe laid out by Paul Tudor Jones has a mechanical logic with somewhat grim implications.
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