The .com boom of the late 90s was different. Companies who had very little to do with the internet were adding ".com" to their name. I was a penny stock trader and that was one of the fastest ways companies would increase value -- add ".com" and issue a press release about how they plan to be "internet enabled" or "create a web presence".
Today most companies aren't getting a bump by talking about AI. You don't see Spotify changing their name to Spotify.AI. Companies are dabbling in offering AI, e.g., SnapChat, but they aren't shifting their whole focus to AI.
Now there is an industry of small companies building on AI, and I think that's healthy. A handful will find something of value. Going back to the early .com days -- I remember companies doing video/movie streaming over the web and voice chats. None of those early companies, AFAIK, still exist. But the market for this technology is bigger than its ever been.