With the NASDAQ 100 jumping 3 percent to an all-time high since March 2000, many worry that this is the start of the new dot-com bubble bursting. Not coming in the form of websites, but rather in artificial intelligence, tech has been making extraordinary strides, and companies have been following right along.

Analysts with Bespoke Investment Group see the glaring similarities and are warning investors to be leery of the situation. “March 2000 is certainly a scary period to think about for investors. Even though the Nasdaq 100 NDX hasn’t experienced an over 3% gain to close at all-time highs since March 2000, there were 32 of these instances throughout the 1990s leading up to the ultimate dot-com bubble peak… Notably, the market did trade heavy over the next day, week, and month, but the index managed to average a gain of roughly 2% over the next three months.”

Numerous companies have become increasingly reliant on AI to grow their businesses and, in many instances, even to keep their heads above water. With this reliance has come a huge surge in AI-based companies. Selling services or running AI programs for others so they can reap the benefits without the setup work, many of these companies are opening and quickly closing, with ample clients left holding the bag.

If companies keep allowing AI to become a keystone in their bridge over these rough waters, they will ultimately find themselves in serious trouble when the bubble bursts and AI either goes away or tries to take over everything in their company. Unlike the assembly line or even robotic factory workers, AI can reach across platforms and destroy an entire company in a matter of seconds.

With so many of these companies failing as a result of bad or ineffective AI, it’s only a matter of time until NASDAQ feels that familiar sting once again. The sting of failure and poor planning is one they know all too well, and thanks to AI, it is becoming closer to happening again than ever.