According to CoinMeta, Bridgewater founder Ray Dalio warns that the current stock market bubble is comparable to that of 1929 and could become the largest bubble in U.S. history. He points out that the frenzy around artificial intelligence has produced "classic signs of a bubble" and mentions record-high IPO and trillions of dollars in valuations. The current market's price-earnings ratio is 41 times, exceeding the 32.6 times level before the 1929 crash.