AI Boom Not Dotcom Bubble, India's Market Correction Earnings-Led: Nilesh Shah

• Kotak Mahindra AMC MD Nilesh Shah states the current AI boom differs from the dotcom bubble, as AI companies are profitable and less leveraged.
• Shah dismisses claims that India underperformed due to missing the AI wave, attributing market correction to stretched valuations and slow earnings growth.
• He emphasizes that stock market returns are driven by earnings growth, governance, and delivery, not just AI adoption.
• Shah maintains a positive outlook on gold and silver, citing sustained central bank buying as a key driver for price support.
• India remains well-positioned in the global risk-reward equation for 2026, offering investor confidence through growth potential and governance.

Why It Matters: AI boom is fundamentally sound; India's market correction was earnings-led, not an AI miss.