The valuations of some artificial intelligence companies are approaching those of the dot-com boom. But investors worry that pulling money from today’s market risks future gains.

The U.S. stock market remains largely quiet as Wall Street waits to hear from the Federal Reserve in the afternoon

As the S&P 500, Nasdaq Composite, and Dow Jones Industrial Average have climbed to never-before-seen levels, stock valuations are attempting to follow suit. Wall Street appears set to enter the new year with the second priciest stock market on record -- and history offers investors a dire warning of what's to come.

US stock futures sank on Thursday as Oracle (ORCL) earnings revived worries about the AI trade, taking the wind out of the Wall Street rally that followed the Federal Reserve’s latest rate cut. Contracts on the S&P 500 (ES=F) and the Nasdaq 100 (NQ=F) tumbled 0.

Oracle was one of the heaviest weights on the market after analysts said they were surprised by how much the tech giant plans to spend on AI infrastructure.

Netflix, O'Reilly Automotive, Lucid Group, Fastenal, and Interactive Brokers -- can skyrocket in the new year, if the loftiest analyst price targets prove accurate.

Wall Street's "fear gauge" was rising on Wednesday ahead of the Federal Reserve's final rate decision of the year. The Cboe Volatility Index, or "VIX," was up 2.6% to 17.34, according to FactSet. The index is a gauge of expected volatility in the the stock market over a 30-day time horizon.

Tesla ($TSLA) continues to be one of Wall Street’s most talked-about stocks. While Wall Street analysts are divided, TipRanks’ A.I. analyst keeps

Beyond Meat ( BYND 2.38%) stock enjoyed a steep surge earlier this year, fueled by retail investor enthusiasm and social media interest. But as we approach the end of 2025, it's down 68% year to date and down 99.5% from its all-time high. Rounded off, that would be 100%, of course, but the company is still drawing breath and hanging on.

Notably, Warren Buffett’s Berkshire Hathaway Inc. trimmed its Apple stake by 15% in the third quarter, while building a position in the latest hot AI play, Alphabet Inc. However, Apple remains the biggest position in Berkshire’s equity portfolio by market value.