“I won’t go into particular names,” Powell told reporters after the Fed’s policy meeting, “but they actually have earnings.“These companies … actually have business models and profits and that kind of thing. So it’s really a different thing” from the dotcom bubble, he added. The comments mark what seems like Powell’s most direct acknowledgment yet that AI’s corporate build-out—spanning hundreds of billions of dollars in data center and semiconductor investments—has become a genuine engine of U.S...