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Howard Marks, co-chairman of Oaktree Capital Management, said the recent setback in AI-related markets has partly broken the market's faith that the sector "can never go wrong." Marks, who said in a memo last year that he was watching for a market bubble, said: "Now people are starting to reflect'Wait, hold on, let's think about this a bit more, maintain a bit more skepticism.' That's very healthy." Marks' comments come as investors' tolerance for tech companies is declining. Although these companies are pouring huge sums into AI bets, their core businesses are showing signs of cooling. Recent results from Alphabet and Amazon have intensified market concerns: AI investments are eroding the original businesses that fund those investments. Marks drew attention in January 2000 for publishing a memo titled "bubble.com," in which he warned of the internet bubble frenzy at the time; the bubble burst shortly afterward.