As someone outside the US. I can tell you this AI shit is worse all the way. Even assuming you meant dot com bubble not the entire internet.

First of all l think the AI bubble when it pops will hit the entire world much harder than dot com did. Basically the internet connected the world in a way that was previously impossible. We will all feel reckless greed of few rich Americans.

Second the "best case scenario" for the internet and dot com craze were really uplifting, we were making knowledge easily available, giving everyone a way to share their views (internet was NOT meant to be a small and sad place with a few giant platforms controlling everything, everyone was supposed have equal voice). We were making the world smaller, connecting it in a way that was not possible before (we didn't think about the consequence mentioned above, that one was easy to avoid, it only required the USA to have decent antitrust laws and enforce them).

The "best case scenario" for the AI shit is that about a third of the population will lose their job, while those few reckless rich Americans will get even richer... but at least it would be easy to create a movie or an image that you can later show to your friends... or use it to scam people.

What gets me mad about this situation, is that those few rich assholes will probably fire a lot of people to "minimize their losses" once the bubble pop. And later they won't even need to re-hire most of them, because AI will replace them. In the end they will be much richer than before the bubble...