AI Bubble Skeptic Reverses Course as Semiconductor Stocks Surge

Owen Lamont of Acadian Asset Management wrote "We are Not in an AI Bubble" in January 2026. By June, Yahoo Finance reported he was sounding a bubble alarm, citing semiconductor stocks. CNBC referenced his "Four Horsemen" framework on July 23 in coverage of U.S. IPO activity — a issuance channel he had flagged back in November 2025.