🕷️ Crawler Inspector

URL Lookup

Direct Parameter Lookup

Raw Queries and Responses

1. Shard Calculation

Query:

Response:

Calculated Shard: 178 (from laksa146)

2. Crawled Status Check

Query:

curl -X POST \
  'http://laksa178.int.ahrefs:8124/' \
  -H 'Content-Type: text/plain' \
  -H 'X-ClickHouse-Database: crawler3' \
  -H 'Authorization: Basic YXBpOg==' \
  -d 'SELECT getAhrefsURLFromUnparsed(src_unparsed) AS found_url, ifNull(toUnixTimestamp(download_stamp), 0) AS crawl_time, ifNull(toUnixTimestamp(props_url_first_seen), 0) AS first_indexed_time, download_http_code AS http_code, src_unparsed AS src_unparsed, src_root_hash AS src_root_hash, history_drop_reason AS history_drop_reason, meta_title AS meta_title, meta_descriptions AS meta_descriptions, attrs_boilerpipe_text AS attrs_boilerpipe_text, attrs_markdown AS attrs_markdown, attrs_readable_markdown AS attrs_readable_markdown, meta_canonical AS meta_canonical FROM crawler3.page_info_local FINAL PREWHERE (src_root_hash, src_unparsed) IN ((getAhrefsRootHashFromUnparsed(getAhrefsUnparsedNoserviceFromURL(\'https://www.kyivpost.com/post/71316\')), getAhrefsUnparsedNoserviceFromURL(\'https://www.kyivpost.com/post/71316\'))) FORMAT JSONEachRow'

Response:

{"found_url":"https:\/\/www.kyivpost.com\/post\/71316","crawl_time":1775976582,"first_indexed_time":1772955471,"http_code":200,"src_unparsed":"com,kyivpost!www,\/post\/71316 s443","src_root_hash":"12359614870497757778","history_drop_reason":null,"meta_title":"AI Bubble Unlikely to Spark 2008-Scale Financial Crisis, NBU’s First Deputy Governor Says","meta_descriptions":["Ukraine’s central bank says even a sharp correction in AI stocks would likely resemble the dot-com downturn rather than the global financial meltdown of 2008."],"attrs_boilerpipe_text":"Even if the rapid rise of artificial intelligence companies turns out to be a market bubble, it is unlikely to trigger a global financial crisis comparable to 2008, National Bank of Ukraine (NBU) First Deputy Governor\nSergiy Nikolaychuk\nsaid in an interview with Ekonomichna Pravda.\nNikolaychuk said it remains uncertain whether the surge in investment and valuations in the AI sector should be described as a bubble, noting that many investors view the technology as a major driver of long-term productivity growth.\nJOIN US ON TELEGRAM\nFollow our coverage of the war on the\n@Kyivpost_official\n.\n“It is difficult to say whether this is a ‘bubble’ and whether it will burst. Many people see artificial intelligence as a powerful driver of long-term productivity growth. This leads to such high valuations of companies that are engaged in artificial intelligence. To a large extent, those risks are already taken into account in the valuations of these companies,” Nikolaychuk said in the\ninterview\n.\nEven if the sector faces a significant correction – particularly in the United States, where many leading AI companies are based – the consequences for the global economy are likely to be limited.\n“I do not expect this crisis to become as global as it was in 2008, even if the stock market in the United States undergoes a significant correction. But now the world is different and less vulnerable to shocks that may occur in the US economy and its financial sector,” Nikolaychuk said.\nOther Topics of Interest\nUkraine’s Asvio Bank Takes Over Assets of Insolvent Motor-Bank\nUkraine’s Asvio Bank has signed an agreement to take over the customers and assets of the bankrupt Motor-Bank, whose former owner was charged with treason.\nThe current situation is more similar to the dot-com crisis rather than 2008 crisis, he added. \nAccording to Nikolaychuk, financial developments in the United States have had a weaker spillover effect on the global economy over the past decade than they did during earlier crises. He said many economies – including the European Union, China, and emerging markets – are now better prepared for potential financial disruptions.\nPart of that resilience stems from institutional reforms carried out by central banks and improvements in macroeconomic governance across many countries. Ukraine, he added, has also\nbecome less vulnerable to external economic shocks\ncompared with previous crises.\n“To some extent, Ukraine is also an example of reduced vulnerability to external shocks compared with what we had in 2008 and 2014,” Nikolaychuk said.\nHe also noted that global financial dynamics have shifted compared with previous crises. During the 2008 financial crisis, problems in the US financial system triggered capital flows into US assets considered safe havens, strengthening the dollar and creating additional pressure for other economies, particularly developing countries.\nNikolaychuk said similar patterns have been less pronounced in recent years, even during major disruptions such as the COVID-19 pandemic.\nHe also pointed to the increasing fragmentation of the global economy, which makes it harder for a single financial shock to produce the same worldwide effects seen during the collapse of the US housing bubble in 2007-2008. \nPreviously, the International Monetary Fund (IMF) warned in its October 2025 World Economic Outlook that the rapid rise of artificial intelligence stocks could resemble the “dotcom bubble” of the 1990s. The IMF was one of the first institutions to publicly voice this concern. \nIMF Chief Economist\nPierre-Olivier Gourinchas said\nan abrupt repricing of tech stocks could occur if AI-driven productivity gains or earnings fail to meet expectations, potentially ending the current investment boom and posing broader risks to global macro-financial stability.\nOlena Hrazhdan\nOlena Hrazhdan is the Business Reporter at Kyiv Post, covering Ukraine’s markets, business, and economic policy. While she reports broadly on economic issues, her core focus is banking, finance, monetary and fiscal policy. Olena previously wrote for leading Ukrainian business media and became a Fellow of the International Monetary Fund’s Journalism Fellowship in 2024.","attrs_markdown":"[War](https:\/\/www.kyivpost.com\/topic\/war-in-ukraine)\n\n[Ukraine](https:\/\/www.kyivpost.com\/category\/ukraine)\n\n### [World](https:\/\/www.kyivpost.com\/category\/world)\n- [North America](https:\/\/www.kyivpost.com\/category\/north-america)\n- [Latin America](https:\/\/www.kyivpost.com\/category\/latin-america)\n- [Europe](https:\/\/www.kyivpost.com\/category\/europe)\n- [Eastern Europe](https:\/\/www.kyivpost.com\/category\/eastern-europe)\n- [Middle East](https:\/\/www.kyivpost.com\/category\/middle-east)\n- [Africa](https:\/\/www.kyivpost.com\/category\/africa)\n- [Asia](https:\/\/www.kyivpost.com\/category\/asia)\n\n### [Economy](https:\/\/www.kyivpost.com\/category\/economics)\n- [Business](https:\/\/www.kyivpost.com\/category\/business)\n- [Technology](https:\/\/www.kyivpost.com\/category\/technology)\n- [Finance](https:\/\/www.kyivpost.com\/category\/finance)\n- [Energy](https:\/\/www.kyivpost.com\/category\/energy)\n- [Agriculture](https:\/\/www.kyivpost.com\/category\/agriculture)\n\n[Videos](https:\/\/www.kyivpost.com\/videos)\n\n[Podcasts](https:\/\/www.kyivpost.com\/podcasts)\n\n[Analysis](https:\/\/www.kyivpost.com\/analysis)\n\n[Corruption Watch](https:\/\/www.kyivpost.com\/category\/corruption-watch)\n\n[Opinions](https:\/\/www.kyivpost.com\/opinions)\n\n### [Culture](https:\/\/www.kyivpost.com\/category\/culture)\n- [Reviews](https:\/\/www.kyivpost.com\/category\/reviews)\n\n[History](https:\/\/www.kyivpost.com\/category\/then-and-now)\n\n[Sports](https:\/\/www.kyivpost.com\/category\/sport)\n\n[Classifieds](https:\/\/www.kyivpost.com\/classifieds)\n\n[Spotlight](https:\/\/www.kyivpost.com\/category\/biz-spotlight)\n\n[Cartoons](https:\/\/www.kyivpost.com\/category\/cartoon)\n\n![Search](https:\/\/www.kyivpost.com\/icons\/header-search.svg) [![Kyiv Post](https:\/\/www.kyivpost.com\/icons\/header-desktop-logo.svg)](https:\/\/www.kyivpost.com\/) [![Kyiv Post](https:\/\/www.kyivpost.com\/icons\/kp_logo_white.svg)](https:\/\/www.kyivpost.com\/)\n\n- [War](https:\/\/www.kyivpost.com\/topic\/war-in-ukraine)\n- [Ukraine](https:\/\/www.kyivpost.com\/category\/ukraine)\n- [World](https:\/\/www.kyivpost.com\/category\/world)\n- [Economy](https:\/\/www.kyivpost.com\/category\/economics)\n- [Videos](https:\/\/www.kyivpost.com\/videos)\n- [Analysis](https:\/\/www.kyivpost.com\/analysis)\n- [Opinions](https:\/\/www.kyivpost.com\/opinions)\n- [Classifieds](https:\/\/www.kyivpost.com\/classifieds)\n- [Spotlight](https:\/\/www.kyivpost.com\/category\/biz-spotlight)\n\nEN\n\n![arrow](https:\/\/www.kyivpost.com\/icons\/select-arrow.svg)\n\n- [UK](https:\/\/www.kyivpost.com\/language\/uk)\n\n[![Kyiv Post](https:\/\/www.kyivpost.com\/assets\/images\/Kyivpost_logo_Black.svg)](https:\/\/www.kyivpost.com\/)\n\n[![Kador Group](https:\/\/www.kyivpost.com\/assets\/images\/kador_logo.jpg)](https:\/\/kadorrgroup.com\/en\/)\n\nEN\n\n![arrow](https:\/\/www.kyivpost.com\/icons\/select-arrow.svg)\n\n- [UK](https:\/\/www.kyivpost.com\/language\/uk)\n\n- [War](https:\/\/www.kyivpost.com\/topic\/war-in-ukraine)\n- [Ukraine](https:\/\/www.kyivpost.com\/category\/ukraine)\n- [World](https:\/\/www.kyivpost.com\/category\/world)\n  - [North America](https:\/\/www.kyivpost.com\/category\/north-america)\n  - [Europe](https:\/\/www.kyivpost.com\/category\/europe)\n  - [Eastern Europe](https:\/\/www.kyivpost.com\/category\/eastern-europe)\n  - [Middle East](https:\/\/www.kyivpost.com\/category\/middle-east)\n  - [Asia](https:\/\/www.kyivpost.com\/category\/asia)\n- [Economy](https:\/\/www.kyivpost.com\/category\/economics)\n  - [Business](https:\/\/www.kyivpost.com\/category\/business)\n  - [Technology](https:\/\/www.kyivpost.com\/category\/technology)\n  - [Finance](https:\/\/www.kyivpost.com\/category\/finance)\n  - [Energy](https:\/\/www.kyivpost.com\/category\/energy)\n  - [Agriculture](https:\/\/www.kyivpost.com\/category\/agriculture)\n- [Videos](https:\/\/www.kyivpost.com\/videos)\n- [Analysis](https:\/\/www.kyivpost.com\/analysis)\n- [Opinions](https:\/\/www.kyivpost.com\/opinions)\n- [Classifieds](https:\/\/www.kyivpost.com\/classifieds)\n- [Spotlight](https:\/\/www.kyivpost.com\/category\/biz-spotlight)\n\n1. [Home](https:\/\/www.kyivpost.com\/)\n2. [World](https:\/\/www.kyivpost.com\/category\/world)\n3. AI Bubble Unlikely to Spark 2008-Scale Financial Crisis, NBU’s First Deputy Governor Says\n\n[Economy](https:\/\/www.kyivpost.com\/topic\/economy)   [Artificial Intelligence](https:\/\/www.kyivpost.com\/topic\/artificial-intelligence)   [NBU (National Bank of Ukraine)](https:\/\/www.kyivpost.com\/topic\/nbu)\n\n# AI Bubble Unlikely to Spark 2008-Scale Financial Crisis, NBU’s First Deputy Governor Says\nUkraine’s central bank says even a sharp correction in AI stocks would likely resemble the dot-com downturn rather than the global financial meltdown of 2008.\n\nby [Olena Hrazhdan](https:\/\/www.kyivpost.com\/authors\/1062) \\| March 8, 2026, 8:43 am\n\n[Make us preferred on Google](https:\/\/www.google.com\/preferences\/source?q=https:\/\/www.kyivpost.com)\n\n[Share]()\n\n- [Facebook]()\n- [X (Twitter)]()\n- [LinkedIn]()\n- [Bluesky]()\n- [Email](<mailto:?subject=Shared from KyivPost: AI Bubble Unlikely to Spark 2008-Scale Financial Crisis, NBU’s First Deputy Governor Says &body=Сheck out this article: https:\/\/www.kyivpost.com\/post\/71316>)\n- [Copy]()   [Copied]()\n\n![AI Bubble Unlikely to Spark 2008-Scale Financial Crisis, NBU’s First Deputy Governor Says](https:\/\/static.kyivpost.com\/storage\/2026\/03\/06\/ea5ee709d467d2424302f39e0efe388f.jpg?w=2560&f=webp)\n\nSergiy Nikolaychuk, First Deputy Governor of the National Bank of Ukraine, during an interview with Kyiv Post in Kyiv in February 2025. (Photo courtesy of the National Bank of Ukraine press service)\n\n[Content]()\n\n- [Global economy seen as more resilient to US shocks](https:\/\/www.kyivpost.com\/post\/71316#global-economy-seen-as-more-resilient-to-us-shocks)\n\n[Share]()\n\n- [Facebook]()\n- [X (Twitter)]()\n- [LinkedIn]()\n- [Bluesky]()\n- [Email](<mailto:?subject=Shared from KyivPost: AI Bubble Unlikely to Spark 2008-Scale Financial Crisis, NBU’s First Deputy Governor Says &body=Сheck out this article: https:\/\/www.kyivpost.com\/post\/71316>)\n- [Copy]()   [Copied]()\n\n[Flip](https:\/\/flipboard.com\/@KyivPost?utm_campaign=tools&utm_medium=follow&action=follow)\n\n[Make us preferred on Google](https:\/\/www.google.com\/preferences\/source?q=https:\/\/www.kyivpost.com)\n\nLoading Audio Player By Instaread, Please Wait...\n\nEven if the rapid rise of artificial intelligence companies turns out to be a market bubble, it is unlikely to trigger a global financial crisis comparable to 2008, National Bank of Ukraine (NBU) First Deputy Governor [Sergiy Nikolaychuk](https:\/\/www.kyivpost.com\/post\/47545) said in an interview with Ekonomichna Pravda.\n\nNikolaychuk said it remains uncertain whether the surge in investment and valuations in the AI sector should be described as a bubble, noting that many investors view the technology as a major driver of long-term productivity growth.\n\n### JOIN US ON TELEGRAM\nFollow our coverage of the war on the [@Kyivpost\\_official](https:\/\/t.me\/Kyivpost_official).\n\n“It is difficult to say whether this is a ‘bubble’ and whether it will burst. Many people see artificial intelligence as a powerful driver of long-term productivity growth. This leads to such high valuations of companies that are engaged in artificial intelligence. To a large extent, those risks are already taken into account in the valuations of these companies,” Nikolaychuk said in the [interview](https:\/\/epravda.com.ua\/interview\/stan-ekonomiki-ukrajini-finansova-stabilnist-bankivska-sistema-perspektivi-818687\/).\n\nAdvertisement\n\nEven if the sector faces a significant correction – particularly in the United States, where many leading AI companies are based – the consequences for the global economy are likely to be limited.\n\n“I do not expect this crisis to become as global as it was in 2008, even if the stock market in the United States undergoes a significant correction. But now the world is different and less vulnerable to shocks that may occur in the US economy and its financial sector,” Nikolaychuk said.\n\nOther Topics of Interest\n\n### [Ukraine’s Asvio Bank Takes Over Assets of Insolvent Motor-Bank](https:\/\/www.kyivpost.com\/post\/73597)\nUkraine’s Asvio Bank has signed an agreement to take over the customers and assets of the bankrupt Motor-Bank, whose former owner was charged with treason.\n\nThe current situation is more similar to the dot-com crisis rather than 2008 crisis, he added.\n\n## Global economy seen as more resilient to US shocks\nAccording to Nikolaychuk, financial developments in the United States have had a weaker spillover effect on the global economy over the past decade than they did during earlier crises. He said many economies – including the European Union, China, and emerging markets – are now better prepared for potential financial disruptions.\n\nPart of that resilience stems from institutional reforms carried out by central banks and improvements in macroeconomic governance across many countries. Ukraine, he added, has also [become less vulnerable to external economic shocks](https:\/\/www.kyivpost.com\/post\/66155) compared with previous crises.\n\nAdvertisement\n\n“To some extent, Ukraine is also an example of reduced vulnerability to external shocks compared with what we had in 2008 and 2014,” Nikolaychuk said.\n\nHe also noted that global financial dynamics have shifted compared with previous crises. During the 2008 financial crisis, problems in the US financial system triggered capital flows into US assets considered safe havens, strengthening the dollar and creating additional pressure for other economies, particularly developing countries.\n\nNikolaychuk said similar patterns have been less pronounced in recent years, even during major disruptions such as the COVID-19 pandemic.\n\nHe also pointed to the increasing fragmentation of the global economy, which makes it harder for a single financial shock to produce the same worldwide effects seen during the collapse of the US housing bubble in 2007-2008.\n\nPreviously, the International Monetary Fund (IMF) warned in its October 2025 World Economic Outlook that the rapid rise of artificial intelligence stocks could resemble the “dotcom bubble” of the 1990s. The IMF was one of the first institutions to publicly voice this concern.\n\nAdvertisement\n\nIMF Chief Economist [Pierre-Olivier Gourinchas said](https:\/\/www.kyivpost.com\/post\/62096) an abrupt repricing of tech stocks could occur if AI-driven productivity gains or earnings fail to meet expectations, potentially ending the current investment boom and posing broader risks to global macro-financial stability.\n\nTo suggest a correction or clarification, write to us here\n\nYou can also highlight the text and press\n\nCtrl + Enter\n\nContact Us\n\n##### Please leave your suggestions or corrections here\nCancel\n\nSend\n\n[![Olena Hrazhdan](https:\/\/static.kyivpost.com\/storage\/members\/avatar\/author-1714895428-b.jpg)](https:\/\/www.kyivpost.com\/authors\/1062)\n\n[Olena Hrazhdan](https:\/\/www.kyivpost.com\/authors\/1062)\n\nOlena Hrazhdan is the Business Reporter at Kyiv Post, covering Ukraine’s markets, business, and economic policy. While she reports broadly on economic issues, her core focus is banking, finance, monetary and fiscal policy. Olena previously wrote for leading Ukrainian business media and became a Fellow of the International Monetary Fund’s Journalism Fellowship in 2024.\n\n[POPULAR](https:\/\/www.kyivpost.com\/post\/71316)\n\n### [Iran Offers to Open Hormuz Only If Sanctions Are Lifted in 10‑Point Peace Plan](https:\/\/www.kyivpost.com\/post\/73419)\nBy Julia Struck-Feshchenko\n\nApril 7, 2026\n\n### [Ukraine Nails Russian Missile Frigate in Novorossiysk Strike, Hits Black Sea Rig](https:\/\/www.kyivpost.com\/post\/73338)\nBy Julia Struck-Feshchenko\n\nApril 6, 2026\n\n### [Ukrainian Navy Confirms High-Tech Swedish Missile Used in Oil Rig Strike](https:\/\/www.kyivpost.com\/post\/73417)\nBy Stefan Korshak\n\nApril 7, 2026\n\n### [Russian Sources: Ukraine Is Fielding New AI-Capable Drones That Can’t Be Detected or Jammed](https:\/\/www.kyivpost.com\/post\/73593)\nBy Stefan Korshak\n\nApril 9, 2026\n\n[More on Economy]()\n\n[![Ukraine’s Parliament Backs Digital Platform Tax Bill](https:\/\/static.kyivpost.com\/storage\/2024\/10\/09\/1023a9876fddf66471e3435932721e25.jpg?w=840&f=webp)](https:\/\/www.kyivpost.com\/post\/73508)\n\n[Economy](https:\/\/www.kyivpost.com\/topic\/economy)\n\n## [Ukraine’s Parliament Backs Digital Platform Tax Bill](https:\/\/www.kyivpost.com\/post\/73508)\nBy Mariia Boltryk\n\nApril 8, 2026\n\n[![Ukraine’s General Cherry, Croatian Drone Manufacturer ORQA to Build Underground Component Factory](https:\/\/static.kyivpost.com\/storage\/2026\/04\/08\/d7d7e5cfe87b6a742899cd769107f9b3.png?w=840&f=webp)](https:\/\/www.kyivpost.com\/post\/73493)\n\n[Drones](https:\/\/www.kyivpost.com\/topic\/drones)\n\n## [Ukraine’s General Cherry, Croatian Drone Manufacturer ORQA to Build Underground Component Factory](https:\/\/www.kyivpost.com\/post\/73493)\nBy Olena Hrazhdan\n\nApril 8, 2026\n\n[![Ukraine’s Parliament Extends Military Levy for 3 Years Post-War](https:\/\/static.kyivpost.com\/storage\/2024\/11\/02\/7add2e5a6f91d2f7d7e48d276eb29049.jpg?w=840&f=webp)](https:\/\/www.kyivpost.com\/post\/73442)\n\n[Economy](https:\/\/www.kyivpost.com\/topic\/economy)\n\n## [Ukraine’s Parliament Extends Military Levy for 3 Years Post-War](https:\/\/www.kyivpost.com\/post\/73442)\nBy Mariia Boltryk\n\nApril 7, 2026\n\n[![Ukraine’s Sugar Production Drops 26% Amid EU Trade Restrictions](https:\/\/static.kyivpost.com\/storage\/2026\/04\/06\/cd124ee02b29cc4855a054f490cfa1aa.jpg?w=840&f=webp)](https:\/\/www.kyivpost.com\/post\/73358)\n\n[Economy](https:\/\/www.kyivpost.com\/topic\/economy)\n\n## [Ukraine’s Sugar Production Drops 26% Amid EU Trade Restrictions](https:\/\/www.kyivpost.com\/post\/73358)\nBy Mariia Boltryk\n\nApril 6, 2026\n\n[Read Next]()\n\n[![First Gambling Operators Connect to SOMS: How This Changes Ukraine’s Gaming Market](https:\/\/static.kyivpost.com\/storage\/2026\/04\/09\/94953a24dfe4be68b6d9346c4ea2e53e.jpg?w=840&f=webp) EXCLUSIVE](https:\/\/www.kyivpost.com\/opinion\/73583)\n\n[Ukraine](https:\/\/www.kyivpost.com\/topic\/ukraine)\n\n## [OPINION: First Gambling Operators Connect to SOMS: How This Changes Ukraine’s Gaming Market](https:\/\/www.kyivpost.com\/opinion\/73583)\nBy Hennadiy Novikov\n\n23h ago\n\n[![Ukraine’s March Inflation Accelerates to 7.9%](https:\/\/static.kyivpost.com\/storage\/2025\/09\/10\/5f2a79783549e23f9e552465f757559c.jpg?w=840&f=webp)](https:\/\/www.kyivpost.com\/post\/73610)\n\n[Economy](https:\/\/www.kyivpost.com\/topic\/economy)\n\n## [Ukraine’s March Inflation Accelerates to 7.9%](https:\/\/www.kyivpost.com\/post\/73610)\nBy Veronika Sukhanych\n\nApril 10, 2026\n\n[![Ukraine’s Asvio Bank Takes Over Assets of Insolvent Motor-Bank](https:\/\/static.kyivpost.com\/storage\/2026\/04\/09\/7ac15d5b740c2e0a8df989e387d8f8c4.webp?w=840&f=webp)](https:\/\/www.kyivpost.com\/post\/73597)\n\n[Economy](https:\/\/www.kyivpost.com\/topic\/economy)\n\n## [Ukraine’s Asvio Bank Takes Over Assets of Insolvent Motor-Bank](https:\/\/www.kyivpost.com\/post\/73597)\nBy Mariia Boltryk\n\nApril 9, 2026\n\n[![Skilled Worker Shortage Persists Despite Labor Supply Growth, NBU Says](https:\/\/static.kyivpost.com\/storage\/2026\/04\/08\/4c089016950822a3df2368e5fc17e29a.jpg?w=840&f=webp)](https:\/\/www.kyivpost.com\/post\/73513)\n\n[NBU (National Bank of Ukraine)](https:\/\/www.kyivpost.com\/topic\/nbu)\n\n## [Skilled Worker Shortage Persists Despite Labor Supply Growth, NBU Says](https:\/\/www.kyivpost.com\/post\/73513)\nBy Olena Hrazhdan\n\nApril 8, 2026\n\n[« Previous France’s Credit Agricole Eyes Expansion in Ukraine, Considers Small Bank Lviv Acquisition](https:\/\/www.kyivpost.com\/post\/71315)\n\n[Next » ‘Shaheds Killed Civilians’: Ukraine Reacts as Iran Opens Khamenei Mourning Book in Kyiv](https:\/\/www.kyivpost.com\/post\/71318)\n\n[POPULAR](https:\/\/www.kyivpost.com\/post\/71316)\n\n[![Iran Offers to Open Hormuz Only If Sanctions Are Lifted in 10‑Point Peace Plan](https:\/\/static.kyivpost.com\/storage\/2026\/04\/05\/c9022aae2f0170213b3a34eb4245654b.jpg?w=840&f=webp)](https:\/\/www.kyivpost.com\/post\/73419)\n\n### [Iran Offers to Open Hormuz Only If Sanctions Are Lifted in 10‑Point Peace Plan](https:\/\/www.kyivpost.com\/post\/73419)\nTehran delivers 10-point plan to Washington via Pakistan, rejecting US cease-fire terms while Trump calls it a “significant step” before new strike deadline.\n\nBy Julia Struck-Feshchenko\n\nApril 7, 2026\n\n### [Ukraine Nails Russian Missile Frigate in Novorossiysk Strike, Hits Black Sea Rig](https:\/\/www.kyivpost.com\/post\/73338)\nBy Julia Struck-Feshchenko\n\nApril 6, 2026\n\n### [Ukrainian Navy Confirms High-Tech Swedish Missile Used in Oil Rig Strike](https:\/\/www.kyivpost.com\/post\/73417)\nBy Stefan Korshak\n\nApril 7, 2026\n\nback to top\n\n[![logo](https:\/\/www.kyivpost.com\/icons\/kp_logo_white.svg)](https:\/\/www.kyivpost.com\/)\n\nMenu\n\n- [Ukraine](https:\/\/www.kyivpost.com\/category\/ukraine)\n- [World](https:\/\/www.kyivpost.com\/category\/world)\n- [Business](https:\/\/www.kyivpost.com\/category\/business)\n- [Economy](https:\/\/www.kyivpost.com\/category\/economics)\n- [Classifieds](https:\/\/www.kyivpost.com\/classifieds)\n- [Spotlight](https:\/\/www.kyivpost.com\/category\/biz-spotlight)\n- [PDF Archive](https:\/\/archive.kyivpost.com\/PDF-archive\/issue)\n\nMultimedia\n\n- [Video](https:\/\/www.kyivpost.com\/videos)\n- [Podcasts](https:\/\/www.kyivpost.com\/podcasts)\n- [Cartoons](https:\/\/www.kyivpost.com\/category\/cartoon)\n\nAbout\n\n- [About Us](https:\/\/www.kyivpost.com\/pages\/about-us)\n- [Contact Us](https:\/\/www.kyivpost.com\/pages\/contact-us)\n- [Advertising](https:\/\/www.kyivpost.com\/pages\/advertising)\n- [Newsletter](https:\/\/www.kyivpost.com\/pages\/newsletter)\n\nPolicies\n\n- [Privacy Policy](https:\/\/www.kyivpost.com\/pages\/privacy-policy)\n- [Cookie Policy](https:\/\/www.kyivpost.com\/pages\/cookie-policy)\n- [Terms & Conditions](https:\/\/www.kyivpost.com\/pages\/terms-and-conditions)\n\nWeb links to Kyiv Post material are allowed provided that they contain a hyperlink to the stories and only a brief extract (not more than 10 percent) of the text.\n\nOnline media registration number: R40-05383\n\n© 1995-2026 BISNESGROUPP LLC\n\nAll materials, including photographs, contained on this site are protected by copyright law and may not be reproduced without the prior written permission of BIZNESGRUPP TOV at news@kyivpost.com. All Interfax-Ukraine news agency stories cannot be reproduced or distributed in any form without written permission of Interfax-Ukraine.\n\n![]()\n\n![]()\n\n![]()\n\n![](https:\/\/www.facebook.com\/tr?id=721426069193231&ev=PageView&noscript=1)\n\nAUDIO STORIES\n\nPowered by  [![https:\/\/instaread.co](https:\/\/instaread.co\/images\/instaread_logo_grey.svg)](https:\/\/instaread.co\/player)\n\nAutoplay\n\n✕\n\nLatest Stories\n\nMy Playlist\n\nYour Playlist is Feeling a Bit Lonely\\!\n\nDon't worry, you can easily add your favorite articles to start listening on the go. Explore our latest stories and build your playlist today\\!\n\nExplore Latest Stories\n\nLatest Stories\n\n![](https:\/\/static.kyivpost.com\/storage\/2026\/03\/29\/5dee0fe3412a9ee625f06b5b58eb5550.jpg?w=1200&q=90&f=jpg)\n\n▶\n\nUkraine Opens Defense Expertise Export in Middle East Security Deals\n\nKyivPost\n\n2:44\n\n![](https:\/\/static.kyivpost.com\/storage\/2026\/04\/12\/e0fb8673d01417e96f2c832cacdc6050.jpg?w=1200&q=90&f=jpg)\n\n▶\n\nUS-Iran Peace Talks End Without Agreement as Vance Issues ‘Final Offer’\n\nKyivPost\n\n2:20\n\n![](https:\/\/static.kyivpost.com\/storage\/2026\/04\/12\/cdda6797332c05732bf561927511c735.jpg?w=1200&q=90&f=jpg)\n\n▶\n\nHungarians Vote in Closely Watched Election, with Orban’s Rule on Line\n\nKyivPost\n\n10:55\n\n![](https:\/\/static.kyivpost.com\/storage\/2026\/04\/12\/57305dc97e79e75706a4727d06012a2d.jpeg?w=1200&q=90&f=jpg)\n\n▶\n\nISW Russian Offensive Campaign Assessment, April 11, 2026\n\nKyivPost\n\n1:28\n\n![](https:\/\/static.kyivpost.com\/storage\/2026\/04\/11\/ca5ac8c2c062a5df074917caa2673f57.jpeg?w=1200&q=90&f=jpg)\n\n▶\n\nOrthodox Easter Ceasefire Begins as Kyiv Warns of Immediate Response to Violations\n\nKyivPost\n\n4:16\n\n![](https:\/\/static.kyivpost.com\/storage\/2026\/04\/07\/92bd2914882a47b0856bb80b78647960.jpg?w=1200&q=90&f=jpg)\n\n▶\n\nOPINION: Shifting Sands of Fortune: See Ukraine and the Gulf Move Closer\n\nKyivPost\n\n5:24\n\n![](https:\/\/static.kyivpost.com\/storage\/2026\/04\/07\/92bd2914882a47b0856bb80b78647960.jpg?w=1200&q=90&f=jpg)\n\n▶\n\nOPINION: Shifting Sands of Fortune: See Ukraine and the Gulf Move Closer\n\nKyivPost\n\n5:24\n\n![](https:\/\/static.kyivpost.com\/storage\/2026\/04\/11\/4d1aca6c55c4676af588512e07fc8aca.jpg?w=1200&q=90&f=jpg)\n\n▶\n\nOver 100,000 Protest in Budapest Ahead of Pivotal Parliamentary Elections\n\nKyivPost\n\n2:20\n\n![](https:\/\/static.kyivpost.com\/storage\/2026\/04\/11\/497d700fb1899e6fcdd1a744cc0ee59e.jpg?w=1200&q=90&f=jpg)\n\n▶\n\nIran and US Top Officials Launch Negotiations in Pakistan\n\nKyivPost\n\n4:35\n\n![](https:\/\/static.kyivpost.com\/storage\/2026\/04\/11\/cf0910e9f31db7270e5f1b1311b2e473.jpg?w=1200&q=90&f=jpg)\n\n▶\n\nEstonia Refrains From Seizing Russian ‘Shadow Fleet’ Citing Escalation Risk\n\nKyivPost\n\n2:49\n\nLoading...\n\nNo more tracks","attrs_readable_markdown":"Even if the rapid rise of artificial intelligence companies turns out to be a market bubble, it is unlikely to trigger a global financial crisis comparable to 2008, National Bank of Ukraine (NBU) First Deputy Governor [Sergiy Nikolaychuk](https:\/\/www.kyivpost.com\/post\/47545) said in an interview with Ekonomichna Pravda.\n\nNikolaychuk said it remains uncertain whether the surge in investment and valuations in the AI sector should be described as a bubble, noting that many investors view the technology as a major driver of long-term productivity growth.\n\n### JOIN US ON TELEGRAM\nFollow our coverage of the war on the [@Kyivpost\\_official](https:\/\/t.me\/Kyivpost_official).\n\n“It is difficult to say whether this is a ‘bubble’ and whether it will burst. Many people see artificial intelligence as a powerful driver of long-term productivity growth. This leads to such high valuations of companies that are engaged in artificial intelligence. To a large extent, those risks are already taken into account in the valuations of these companies,” Nikolaychuk said in the [interview](https:\/\/epravda.com.ua\/interview\/stan-ekonomiki-ukrajini-finansova-stabilnist-bankivska-sistema-perspektivi-818687\/).\n\nEven if the sector faces a significant correction – particularly in the United States, where many leading AI companies are based – the consequences for the global economy are likely to be limited.\n\n“I do not expect this crisis to become as global as it was in 2008, even if the stock market in the United States undergoes a significant correction. But now the world is different and less vulnerable to shocks that may occur in the US economy and its financial sector,” Nikolaychuk said.\n\nOther Topics of Interest\n\n### [Ukraine’s Asvio Bank Takes Over Assets of Insolvent Motor-Bank](https:\/\/www.kyivpost.com\/post\/73597)\nUkraine’s Asvio Bank has signed an agreement to take over the customers and assets of the bankrupt Motor-Bank, whose former owner was charged with treason.\n\nThe current situation is more similar to the dot-com crisis rather than 2008 crisis, he added.\n\nAccording to Nikolaychuk, financial developments in the United States have had a weaker spillover effect on the global economy over the past decade than they did during earlier crises. He said many economies – including the European Union, China, and emerging markets – are now better prepared for potential financial disruptions.\n\nPart of that resilience stems from institutional reforms carried out by central banks and improvements in macroeconomic governance across many countries. Ukraine, he added, has also [become less vulnerable to external economic shocks](https:\/\/www.kyivpost.com\/post\/66155) compared with previous crises.\n\n“To some extent, Ukraine is also an example of reduced vulnerability to external shocks compared with what we had in 2008 and 2014,” Nikolaychuk said.\n\nHe also noted that global financial dynamics have shifted compared with previous crises. During the 2008 financial crisis, problems in the US financial system triggered capital flows into US assets considered safe havens, strengthening the dollar and creating additional pressure for other economies, particularly developing countries.\n\nNikolaychuk said similar patterns have been less pronounced in recent years, even during major disruptions such as the COVID-19 pandemic.\n\nHe also pointed to the increasing fragmentation of the global economy, which makes it harder for a single financial shock to produce the same worldwide effects seen during the collapse of the US housing bubble in 2007-2008.\n\nPreviously, the International Monetary Fund (IMF) warned in its October 2025 World Economic Outlook that the rapid rise of artificial intelligence stocks could resemble the “dotcom bubble” of the 1990s. The IMF was one of the first institutions to publicly voice this concern.\n\nIMF Chief Economist [Pierre-Olivier Gourinchas said](https:\/\/www.kyivpost.com\/post\/62096) an abrupt repricing of tech stocks could occur if AI-driven productivity gains or earnings fail to meet expectations, potentially ending the current investment boom and posing broader risks to global macro-financial stability.\n\n[![Olena Hrazhdan](https:\/\/static.kyivpost.com\/storage\/members\/avatar\/author-1714895428-b.jpg)](https:\/\/www.kyivpost.com\/authors\/1062)\n\n[Olena Hrazhdan](https:\/\/www.kyivpost.com\/authors\/1062)\n\nOlena Hrazhdan is the Business Reporter at Kyiv Post, covering Ukraine’s markets, business, and economic policy. While she reports broadly on economic issues, her core focus is banking, finance, monetary and fiscal policy. Olena previously wrote for leading Ukrainian business media and became a Fellow of the International Monetary Fund’s Journalism Fellowship in 2024.","meta_canonical":null}

3. Robots.txt Check

Query:

Response:

4. Spam/Ban Check

Query:

Response:

5. Seen Status Check

ℹ️ Skipped - page is already crawled

📄

INDEXABLE

✅

CRAWLED

1 day ago

🤖

ROBOTS ALLOWED

Page Info Filters

Filter	Status	Condition	Details
HTTP status	PASS	`download_http_code = 200`	HTTP 200
Age cutoff	PASS	`download_stamp > now() - 6 MONTH`	0 months ago
History drop	PASS	`isNull(history_drop_reason)`	No drop reason
Spam/ban	PASS	`fh_dont_index != 1 AND ml_spam_score = 0`	ml_spam_score=0
Canonical	PASS	`meta_canonical IS NULL OR = '' OR = src_unparsed`	Not set

Page Details

Property	Value
URL	https://www.kyivpost.com/post/71316
Last Crawled	2026-04-12 06:49:42 (1 day ago)
First Indexed	2026-03-08 07:37:51 (1 month ago)
HTTP Status Code	200
Meta Title	AI Bubble Unlikely to Spark 2008-Scale Financial Crisis, NBU’s First Deputy Governor Says
Meta Description	Ukraine’s central bank says even a sharp correction in AI stocks would likely resemble the dot-com downturn rather than the global financial meltdown of 2008.
Meta Canonical	null
Boilerpipe Text	Even if the rapid rise of artificial intelligence companies turns out to be a market bubble, it is unlikely to trigger a global financial crisis comparable to 2008, National Bank of Ukraine (NBU) First Deputy Governor Sergiy Nikolaychuk said in an interview with Ekonomichna Pravda. Nikolaychuk said it remains uncertain whether the surge in investment and valuations in the AI sector should be described as a bubble, noting that many investors view the technology as a major driver of long-term productivity growth. JOIN US ON TELEGRAM Follow our coverage of the war on the @Kyivpost_official . “It is difficult to say whether this is a ‘bubble’ and whether it will burst. Many people see artificial intelligence as a powerful driver of long-term productivity growth. This leads to such high valuations of companies that are engaged in artificial intelligence. To a large extent, those risks are already taken into account in the valuations of these companies,” Nikolaychuk said in the interview . Even if the sector faces a significant correction – particularly in the United States, where many leading AI companies are based – the consequences for the global economy are likely to be limited. “I do not expect this crisis to become as global as it was in 2008, even if the stock market in the United States undergoes a significant correction. But now the world is different and less vulnerable to shocks that may occur in the US economy and its financial sector,” Nikolaychuk said. Other Topics of Interest Ukraine’s Asvio Bank Takes Over Assets of Insolvent Motor-Bank Ukraine’s Asvio Bank has signed an agreement to take over the customers and assets of the bankrupt Motor-Bank, whose former owner was charged with treason. The current situation is more similar to the dot-com crisis rather than 2008 crisis, he added. According to Nikolaychuk, financial developments in the United States have had a weaker spillover effect on the global economy over the past decade than they did during earlier crises. He said many economies – including the European Union, China, and emerging markets – are now better prepared for potential financial disruptions. Part of that resilience stems from institutional reforms carried out by central banks and improvements in macroeconomic governance across many countries. Ukraine, he added, has also become less vulnerable to external economic shocks compared with previous crises. “To some extent, Ukraine is also an example of reduced vulnerability to external shocks compared with what we had in 2008 and 2014,” Nikolaychuk said. He also noted that global financial dynamics have shifted compared with previous crises. During the 2008 financial crisis, problems in the US financial system triggered capital flows into US assets considered safe havens, strengthening the dollar and creating additional pressure for other economies, particularly developing countries. Nikolaychuk said similar patterns have been less pronounced in recent years, even during major disruptions such as the COVID-19 pandemic. He also pointed to the increasing fragmentation of the global economy, which makes it harder for a single financial shock to produce the same worldwide effects seen during the collapse of the US housing bubble in 2007-2008. Previously, the International Monetary Fund (IMF) warned in its October 2025 World Economic Outlook that the rapid rise of artificial intelligence stocks could resemble the “dotcom bubble” of the 1990s. The IMF was one of the first institutions to publicly voice this concern. IMF Chief Economist Pierre-Olivier Gourinchas said an abrupt repricing of tech stocks could occur if AI-driven productivity gains or earnings fail to meet expectations, potentially ending the current investment boom and posing broader risks to global macro-financial stability. Olena Hrazhdan Olena Hrazhdan is the Business Reporter at Kyiv Post, covering Ukraine’s markets, business, and economic policy. While she reports broadly on economic issues, her core focus is banking, finance, monetary and fiscal policy. Olena previously wrote for leading Ukrainian business media and became a Fellow of the International Monetary Fund’s Journalism Fellowship in 2024.
Markdown	[War](https://www.kyivpost.com/topic/war-in-ukraine) [Ukraine](https://www.kyivpost.com/category/ukraine) ### [World](https://www.kyivpost.com/category/world) - [North America](https://www.kyivpost.com/category/north-america) - [Latin America](https://www.kyivpost.com/category/latin-america) - [Europe](https://www.kyivpost.com/category/europe) - [Eastern Europe](https://www.kyivpost.com/category/eastern-europe) - [Middle East](https://www.kyivpost.com/category/middle-east) - [Africa](https://www.kyivpost.com/category/africa) - [Asia](https://www.kyivpost.com/category/asia) ### [Economy](https://www.kyivpost.com/category/economics) - [Business](https://www.kyivpost.com/category/business) - [Technology](https://www.kyivpost.com/category/technology) - [Finance](https://www.kyivpost.com/category/finance) - [Energy](https://www.kyivpost.com/category/energy) - [Agriculture](https://www.kyivpost.com/category/agriculture) [Videos](https://www.kyivpost.com/videos) [Podcasts](https://www.kyivpost.com/podcasts) [Analysis](https://www.kyivpost.com/analysis) [Corruption Watch](https://www.kyivpost.com/category/corruption-watch) [Opinions](https://www.kyivpost.com/opinions) ### [Culture](https://www.kyivpost.com/category/culture) - [Reviews](https://www.kyivpost.com/category/reviews) [History](https://www.kyivpost.com/category/then-and-now) [Sports](https://www.kyivpost.com/category/sport) [Classifieds](https://www.kyivpost.com/classifieds) [Spotlight](https://www.kyivpost.com/category/biz-spotlight) [Cartoons](https://www.kyivpost.com/category/cartoon) ![Search](https://www.kyivpost.com/icons/header-search.svg) [![Kyiv Post](https://www.kyivpost.com/icons/header-desktop-logo.svg)](https://www.kyivpost.com/) [![Kyiv Post](https://www.kyivpost.com/icons/kp_logo_white.svg)](https://www.kyivpost.com/) - [War](https://www.kyivpost.com/topic/war-in-ukraine) - [Ukraine](https://www.kyivpost.com/category/ukraine) - [World](https://www.kyivpost.com/category/world) - [Economy](https://www.kyivpost.com/category/economics) - [Videos](https://www.kyivpost.com/videos) - [Analysis](https://www.kyivpost.com/analysis) - [Opinions](https://www.kyivpost.com/opinions) - [Classifieds](https://www.kyivpost.com/classifieds) - [Spotlight](https://www.kyivpost.com/category/biz-spotlight) EN ![arrow](https://www.kyivpost.com/icons/select-arrow.svg) - [UK](https://www.kyivpost.com/language/uk) [![Kyiv Post](https://www.kyivpost.com/assets/images/Kyivpost_logo_Black.svg)](https://www.kyivpost.com/) [![Kador Group](https://www.kyivpost.com/assets/images/kador_logo.jpg)](https://kadorrgroup.com/en/) EN ![arrow](https://www.kyivpost.com/icons/select-arrow.svg) - [UK](https://www.kyivpost.com/language/uk) - [War](https://www.kyivpost.com/topic/war-in-ukraine) - [Ukraine](https://www.kyivpost.com/category/ukraine) - [World](https://www.kyivpost.com/category/world) - [North America](https://www.kyivpost.com/category/north-america) - [Europe](https://www.kyivpost.com/category/europe) - [Eastern Europe](https://www.kyivpost.com/category/eastern-europe) - [Middle East](https://www.kyivpost.com/category/middle-east) - [Asia](https://www.kyivpost.com/category/asia) - [Economy](https://www.kyivpost.com/category/economics) - [Business](https://www.kyivpost.com/category/business) - [Technology](https://www.kyivpost.com/category/technology) - [Finance](https://www.kyivpost.com/category/finance) - [Energy](https://www.kyivpost.com/category/energy) - [Agriculture](https://www.kyivpost.com/category/agriculture) - [Videos](https://www.kyivpost.com/videos) - [Analysis](https://www.kyivpost.com/analysis) - [Opinions](https://www.kyivpost.com/opinions) - [Classifieds](https://www.kyivpost.com/classifieds) - [Spotlight](https://www.kyivpost.com/category/biz-spotlight) 1. [Home](https://www.kyivpost.com/) 2. [World](https://www.kyivpost.com/category/world) 3. AI Bubble Unlikely to Spark 2008-Scale Financial Crisis, NBU’s First Deputy Governor Says [Economy](https://www.kyivpost.com/topic/economy) [Artificial Intelligence](https://www.kyivpost.com/topic/artificial-intelligence) [NBU (National Bank of Ukraine)](https://www.kyivpost.com/topic/nbu) # AI Bubble Unlikely to Spark 2008-Scale Financial Crisis, NBU’s First Deputy Governor Says Ukraine’s central bank says even a sharp correction in AI stocks would likely resemble the dot-com downturn rather than the global financial meltdown of 2008. by [Olena Hrazhdan](https://www.kyivpost.com/authors/1062) \\| March 8, 2026, 8:43 am [Make us preferred on Google](https://www.google.com/preferences/source?q=https://www.kyivpost.com) [Share]() - [Facebook]() - [X (Twitter)]() - [LinkedIn]() - [Bluesky]() - [Email](<mailto:?subject=Shared from KyivPost: AI Bubble Unlikely to Spark 2008-Scale Financial Crisis, NBU’s First Deputy Governor Says &body=Сheck out this article: https://www.kyivpost.com/post/71316>) - [Copy]() [Copied]() ![AI Bubble Unlikely to Spark 2008-Scale Financial Crisis, NBU’s First Deputy Governor Says](https://static.kyivpost.com/storage/2026/03/06/ea5ee709d467d2424302f39e0efe388f.jpg?w=2560&f=webp) Sergiy Nikolaychuk, First Deputy Governor of the National Bank of Ukraine, during an interview with Kyiv Post in Kyiv in February 2025. (Photo courtesy of the National Bank of Ukraine press service) [Content]() - [Global economy seen as more resilient to US shocks](https://www.kyivpost.com/post/71316#global-economy-seen-as-more-resilient-to-us-shocks) [Share]() - [Facebook]() - [X (Twitter)]() - [LinkedIn]() - [Bluesky]() - [Email](<mailto:?subject=Shared from KyivPost: AI Bubble Unlikely to Spark 2008-Scale Financial Crisis, NBU’s First Deputy Governor Says &body=Сheck out this article: https://www.kyivpost.com/post/71316>) - [Copy]() [Copied]() [Flip](https://flipboard.com/@KyivPost?utm_campaign=tools&utm_medium=follow&action=follow) [Make us preferred on Google](https://www.google.com/preferences/source?q=https://www.kyivpost.com) Loading Audio Player By Instaread, Please Wait... Even if the rapid rise of artificial intelligence companies turns out to be a market bubble, it is unlikely to trigger a global financial crisis comparable to 2008, National Bank of Ukraine (NBU) First Deputy Governor [Sergiy Nikolaychuk](https://www.kyivpost.com/post/47545) said in an interview with Ekonomichna Pravda. Nikolaychuk said it remains uncertain whether the surge in investment and valuations in the AI sector should be described as a bubble, noting that many investors view the technology as a major driver of long-term productivity growth. ### JOIN US ON TELEGRAM Follow our coverage of the war on the [@Kyivpost\_official](https://t.me/Kyivpost_official). “It is difficult to say whether this is a ‘bubble’ and whether it will burst. Many people see artificial intelligence as a powerful driver of long-term productivity growth. This leads to such high valuations of companies that are engaged in artificial intelligence. To a large extent, those risks are already taken into account in the valuations of these companies,” Nikolaychuk said in the [interview](https://epravda.com.ua/interview/stan-ekonomiki-ukrajini-finansova-stabilnist-bankivska-sistema-perspektivi-818687/). Advertisement Even if the sector faces a significant correction – particularly in the United States, where many leading AI companies are based – the consequences for the global economy are likely to be limited. “I do not expect this crisis to become as global as it was in 2008, even if the stock market in the United States undergoes a significant correction. But now the world is different and less vulnerable to shocks that may occur in the US economy and its financial sector,” Nikolaychuk said. Other Topics of Interest ### [Ukraine’s Asvio Bank Takes Over Assets of Insolvent Motor-Bank](https://www.kyivpost.com/post/73597) Ukraine’s Asvio Bank has signed an agreement to take over the customers and assets of the bankrupt Motor-Bank, whose former owner was charged with treason. The current situation is more similar to the dot-com crisis rather than 2008 crisis, he added. ## Global economy seen as more resilient to US shocks According to Nikolaychuk, financial developments in the United States have had a weaker spillover effect on the global economy over the past decade than they did during earlier crises. He said many economies – including the European Union, China, and emerging markets – are now better prepared for potential financial disruptions. Part of that resilience stems from institutional reforms carried out by central banks and improvements in macroeconomic governance across many countries. Ukraine, he added, has also [become less vulnerable to external economic shocks](https://www.kyivpost.com/post/66155) compared with previous crises. Advertisement “To some extent, Ukraine is also an example of reduced vulnerability to external shocks compared with what we had in 2008 and 2014,” Nikolaychuk said. He also noted that global financial dynamics have shifted compared with previous crises. During the 2008 financial crisis, problems in the US financial system triggered capital flows into US assets considered safe havens, strengthening the dollar and creating additional pressure for other economies, particularly developing countries. Nikolaychuk said similar patterns have been less pronounced in recent years, even during major disruptions such as the COVID-19 pandemic. He also pointed to the increasing fragmentation of the global economy, which makes it harder for a single financial shock to produce the same worldwide effects seen during the collapse of the US housing bubble in 2007-2008. Previously, the International Monetary Fund (IMF) warned in its October 2025 World Economic Outlook that the rapid rise of artificial intelligence stocks could resemble the “dotcom bubble” of the 1990s. The IMF was one of the first institutions to publicly voice this concern. Advertisement IMF Chief Economist [Pierre-Olivier Gourinchas said](https://www.kyivpost.com/post/62096) an abrupt repricing of tech stocks could occur if AI-driven productivity gains or earnings fail to meet expectations, potentially ending the current investment boom and posing broader risks to global macro-financial stability. To suggest a correction or clarification, write to us here You can also highlight the text and press Ctrl + Enter Contact Us ##### Please leave your suggestions or corrections here Cancel Send [![Olena Hrazhdan](https://static.kyivpost.com/storage/members/avatar/author-1714895428-b.jpg)](https://www.kyivpost.com/authors/1062) [Olena Hrazhdan](https://www.kyivpost.com/authors/1062) Olena Hrazhdan is the Business Reporter at Kyiv Post, covering Ukraine’s markets, business, and economic policy. While she reports broadly on economic issues, her core focus is banking, finance, monetary and fiscal policy. Olena previously wrote for leading Ukrainian business media and became a Fellow of the International Monetary Fund’s Journalism Fellowship in 2024. [POPULAR](https://www.kyivpost.com/post/71316) ### [Iran Offers to Open Hormuz Only If Sanctions Are Lifted in 10‑Point Peace Plan](https://www.kyivpost.com/post/73419) By Julia Struck-Feshchenko April 7, 2026 ### [Ukraine Nails Russian Missile Frigate in Novorossiysk Strike, Hits Black Sea Rig](https://www.kyivpost.com/post/73338) By Julia Struck-Feshchenko April 6, 2026 ### [Ukrainian Navy Confirms High-Tech Swedish Missile Used in Oil Rig Strike](https://www.kyivpost.com/post/73417) By Stefan Korshak April 7, 2026 ### [Russian Sources: Ukraine Is Fielding New AI-Capable Drones That Can’t Be Detected or Jammed](https://www.kyivpost.com/post/73593) By Stefan Korshak April 9, 2026 [More on Economy]() [![Ukraine’s Parliament Backs Digital Platform Tax Bill](https://static.kyivpost.com/storage/2024/10/09/1023a9876fddf66471e3435932721e25.jpg?w=840&f=webp)](https://www.kyivpost.com/post/73508) [Economy](https://www.kyivpost.com/topic/economy) ## [Ukraine’s Parliament Backs Digital Platform Tax Bill](https://www.kyivpost.com/post/73508) By Mariia Boltryk April 8, 2026 [![Ukraine’s General Cherry, Croatian Drone Manufacturer ORQA to Build Underground Component Factory](https://static.kyivpost.com/storage/2026/04/08/d7d7e5cfe87b6a742899cd769107f9b3.png?w=840&f=webp)](https://www.kyivpost.com/post/73493) [Drones](https://www.kyivpost.com/topic/drones) ## [Ukraine’s General Cherry, Croatian Drone Manufacturer ORQA to Build Underground Component Factory](https://www.kyivpost.com/post/73493) By Olena Hrazhdan April 8, 2026 [![Ukraine’s Parliament Extends Military Levy for 3 Years Post-War](https://static.kyivpost.com/storage/2024/11/02/7add2e5a6f91d2f7d7e48d276eb29049.jpg?w=840&f=webp)](https://www.kyivpost.com/post/73442) [Economy](https://www.kyivpost.com/topic/economy) ## [Ukraine’s Parliament Extends Military Levy for 3 Years Post-War](https://www.kyivpost.com/post/73442) By Mariia Boltryk April 7, 2026 [![Ukraine’s Sugar Production Drops 26% Amid EU Trade Restrictions](https://static.kyivpost.com/storage/2026/04/06/cd124ee02b29cc4855a054f490cfa1aa.jpg?w=840&f=webp)](https://www.kyivpost.com/post/73358) [Economy](https://www.kyivpost.com/topic/economy) ## [Ukraine’s Sugar Production Drops 26% Amid EU Trade Restrictions](https://www.kyivpost.com/post/73358) By Mariia Boltryk April 6, 2026 [Read Next]() [![First Gambling Operators Connect to SOMS: How This Changes Ukraine’s Gaming Market](https://static.kyivpost.com/storage/2026/04/09/94953a24dfe4be68b6d9346c4ea2e53e.jpg?w=840&f=webp) EXCLUSIVE](https://www.kyivpost.com/opinion/73583) [Ukraine](https://www.kyivpost.com/topic/ukraine) ## [OPINION: First Gambling Operators Connect to SOMS: How This Changes Ukraine’s Gaming Market](https://www.kyivpost.com/opinion/73583) By Hennadiy Novikov 23h ago [![Ukraine’s March Inflation Accelerates to 7.9%](https://static.kyivpost.com/storage/2025/09/10/5f2a79783549e23f9e552465f757559c.jpg?w=840&f=webp)](https://www.kyivpost.com/post/73610) [Economy](https://www.kyivpost.com/topic/economy) ## [Ukraine’s March Inflation Accelerates to 7.9%](https://www.kyivpost.com/post/73610) By Veronika Sukhanych April 10, 2026 [![Ukraine’s Asvio Bank Takes Over Assets of Insolvent Motor-Bank](https://static.kyivpost.com/storage/2026/04/09/7ac15d5b740c2e0a8df989e387d8f8c4.webp?w=840&f=webp)](https://www.kyivpost.com/post/73597) [Economy](https://www.kyivpost.com/topic/economy) ## [Ukraine’s Asvio Bank Takes Over Assets of Insolvent Motor-Bank](https://www.kyivpost.com/post/73597) By Mariia Boltryk April 9, 2026 [![Skilled Worker Shortage Persists Despite Labor Supply Growth, NBU Says](https://static.kyivpost.com/storage/2026/04/08/4c089016950822a3df2368e5fc17e29a.jpg?w=840&f=webp)](https://www.kyivpost.com/post/73513) [NBU (National Bank of Ukraine)](https://www.kyivpost.com/topic/nbu) ## [Skilled Worker Shortage Persists Despite Labor Supply Growth, NBU Says](https://www.kyivpost.com/post/73513) By Olena Hrazhdan April 8, 2026 [« Previous France’s Credit Agricole Eyes Expansion in Ukraine, Considers Small Bank Lviv Acquisition](https://www.kyivpost.com/post/71315) [Next » ‘Shaheds Killed Civilians’: Ukraine Reacts as Iran Opens Khamenei Mourning Book in Kyiv](https://www.kyivpost.com/post/71318) [POPULAR](https://www.kyivpost.com/post/71316) [![Iran Offers to Open Hormuz Only If Sanctions Are Lifted in 10‑Point Peace Plan](https://static.kyivpost.com/storage/2026/04/05/c9022aae2f0170213b3a34eb4245654b.jpg?w=840&f=webp)](https://www.kyivpost.com/post/73419) ### [Iran Offers to Open Hormuz Only If Sanctions Are Lifted in 10‑Point Peace Plan](https://www.kyivpost.com/post/73419) Tehran delivers 10-point plan to Washington via Pakistan, rejecting US cease-fire terms while Trump calls it a “significant step” before new strike deadline. By Julia Struck-Feshchenko April 7, 2026 ### [Ukraine Nails Russian Missile Frigate in Novorossiysk Strike, Hits Black Sea Rig](https://www.kyivpost.com/post/73338) By Julia Struck-Feshchenko April 6, 2026 ### [Ukrainian Navy Confirms High-Tech Swedish Missile Used in Oil Rig Strike](https://www.kyivpost.com/post/73417) By Stefan Korshak April 7, 2026 back to top [![logo](https://www.kyivpost.com/icons/kp_logo_white.svg)](https://www.kyivpost.com/) Menu - [Ukraine](https://www.kyivpost.com/category/ukraine) - [World](https://www.kyivpost.com/category/world) - [Business](https://www.kyivpost.com/category/business) - [Economy](https://www.kyivpost.com/category/economics) - [Classifieds](https://www.kyivpost.com/classifieds) - [Spotlight](https://www.kyivpost.com/category/biz-spotlight) - [PDF Archive](https://archive.kyivpost.com/PDF-archive/issue) Multimedia - [Video](https://www.kyivpost.com/videos) - [Podcasts](https://www.kyivpost.com/podcasts) - [Cartoons](https://www.kyivpost.com/category/cartoon) About - [About Us](https://www.kyivpost.com/pages/about-us) - [Contact Us](https://www.kyivpost.com/pages/contact-us) - [Advertising](https://www.kyivpost.com/pages/advertising) - [Newsletter](https://www.kyivpost.com/pages/newsletter) Policies - [Privacy Policy](https://www.kyivpost.com/pages/privacy-policy) - [Cookie Policy](https://www.kyivpost.com/pages/cookie-policy) - [Terms & Conditions](https://www.kyivpost.com/pages/terms-and-conditions) Web links to Kyiv Post material are allowed provided that they contain a hyperlink to the stories and only a brief extract (not more than 10 percent) of the text. Online media registration number: R40-05383 © 1995-2026 BISNESGROUPP LLC All materials, including photographs, contained on this site are protected by copyright law and may not be reproduced without the prior written permission of BIZNESGRUPP TOV at news@kyivpost.com. All Interfax-Ukraine news agency stories cannot be reproduced or distributed in any form without written permission of Interfax-Ukraine. ![]() ![]() ![]() ![](https://www.facebook.com/tr?id=721426069193231&ev=PageView&noscript=1) AUDIO STORIES Powered by [![https://instaread.co](https://instaread.co/images/instaread_logo_grey.svg)](https://instaread.co/player) Autoplay ✕ Latest Stories My Playlist Your Playlist is Feeling a Bit Lonely\! Don't worry, you can easily add your favorite articles to start listening on the go. Explore our latest stories and build your playlist today\! Explore Latest Stories Latest Stories ![](https://static.kyivpost.com/storage/2026/03/29/5dee0fe3412a9ee625f06b5b58eb5550.jpg?w=1200&q=90&f=jpg) ▶ Ukraine Opens Defense Expertise Export in Middle East Security Deals KyivPost 2:44 ![](https://static.kyivpost.com/storage/2026/04/12/e0fb8673d01417e96f2c832cacdc6050.jpg?w=1200&q=90&f=jpg) ▶ US-Iran Peace Talks End Without Agreement as Vance Issues ‘Final Offer’ KyivPost 2:20 ![](https://static.kyivpost.com/storage/2026/04/12/cdda6797332c05732bf561927511c735.jpg?w=1200&q=90&f=jpg) ▶ Hungarians Vote in Closely Watched Election, with Orban’s Rule on Line KyivPost 10:55 ![](https://static.kyivpost.com/storage/2026/04/12/57305dc97e79e75706a4727d06012a2d.jpeg?w=1200&q=90&f=jpg) ▶ ISW Russian Offensive Campaign Assessment, April 11, 2026 KyivPost 1:28 ![](https://static.kyivpost.com/storage/2026/04/11/ca5ac8c2c062a5df074917caa2673f57.jpeg?w=1200&q=90&f=jpg) ▶ Orthodox Easter Ceasefire Begins as Kyiv Warns of Immediate Response to Violations KyivPost 4:16 ![](https://static.kyivpost.com/storage/2026/04/07/92bd2914882a47b0856bb80b78647960.jpg?w=1200&q=90&f=jpg) ▶ OPINION: Shifting Sands of Fortune: See Ukraine and the Gulf Move Closer KyivPost 5:24 ![](https://static.kyivpost.com/storage/2026/04/07/92bd2914882a47b0856bb80b78647960.jpg?w=1200&q=90&f=jpg) ▶ OPINION: Shifting Sands of Fortune: See Ukraine and the Gulf Move Closer KyivPost 5:24 ![](https://static.kyivpost.com/storage/2026/04/11/4d1aca6c55c4676af588512e07fc8aca.jpg?w=1200&q=90&f=jpg) ▶ Over 100,000 Protest in Budapest Ahead of Pivotal Parliamentary Elections KyivPost 2:20 ![](https://static.kyivpost.com/storage/2026/04/11/497d700fb1899e6fcdd1a744cc0ee59e.jpg?w=1200&q=90&f=jpg) ▶ Iran and US Top Officials Launch Negotiations in Pakistan KyivPost 4:35 ![](https://static.kyivpost.com/storage/2026/04/11/cf0910e9f31db7270e5f1b1311b2e473.jpg?w=1200&q=90&f=jpg) ▶ Estonia Refrains From Seizing Russian ‘Shadow Fleet’ Citing Escalation Risk KyivPost 2:49 Loading... No more tracks
Readable Markdown	Even if the rapid rise of artificial intelligence companies turns out to be a market bubble, it is unlikely to trigger a global financial crisis comparable to 2008, National Bank of Ukraine (NBU) First Deputy Governor [Sergiy Nikolaychuk](https://www.kyivpost.com/post/47545) said in an interview with Ekonomichna Pravda. Nikolaychuk said it remains uncertain whether the surge in investment and valuations in the AI sector should be described as a bubble, noting that many investors view the technology as a major driver of long-term productivity growth. ### JOIN US ON TELEGRAM Follow our coverage of the war on the [@Kyivpost\_official](https://t.me/Kyivpost_official). “It is difficult to say whether this is a ‘bubble’ and whether it will burst. Many people see artificial intelligence as a powerful driver of long-term productivity growth. This leads to such high valuations of companies that are engaged in artificial intelligence. To a large extent, those risks are already taken into account in the valuations of these companies,” Nikolaychuk said in the [interview](https://epravda.com.ua/interview/stan-ekonomiki-ukrajini-finansova-stabilnist-bankivska-sistema-perspektivi-818687/). Even if the sector faces a significant correction – particularly in the United States, where many leading AI companies are based – the consequences for the global economy are likely to be limited. “I do not expect this crisis to become as global as it was in 2008, even if the stock market in the United States undergoes a significant correction. But now the world is different and less vulnerable to shocks that may occur in the US economy and its financial sector,” Nikolaychuk said. Other Topics of Interest ### [Ukraine’s Asvio Bank Takes Over Assets of Insolvent Motor-Bank](https://www.kyivpost.com/post/73597) Ukraine’s Asvio Bank has signed an agreement to take over the customers and assets of the bankrupt Motor-Bank, whose former owner was charged with treason. The current situation is more similar to the dot-com crisis rather than 2008 crisis, he added. According to Nikolaychuk, financial developments in the United States have had a weaker spillover effect on the global economy over the past decade than they did during earlier crises. He said many economies – including the European Union, China, and emerging markets – are now better prepared for potential financial disruptions. Part of that resilience stems from institutional reforms carried out by central banks and improvements in macroeconomic governance across many countries. Ukraine, he added, has also [become less vulnerable to external economic shocks](https://www.kyivpost.com/post/66155) compared with previous crises. “To some extent, Ukraine is also an example of reduced vulnerability to external shocks compared with what we had in 2008 and 2014,” Nikolaychuk said. He also noted that global financial dynamics have shifted compared with previous crises. During the 2008 financial crisis, problems in the US financial system triggered capital flows into US assets considered safe havens, strengthening the dollar and creating additional pressure for other economies, particularly developing countries. Nikolaychuk said similar patterns have been less pronounced in recent years, even during major disruptions such as the COVID-19 pandemic. He also pointed to the increasing fragmentation of the global economy, which makes it harder for a single financial shock to produce the same worldwide effects seen during the collapse of the US housing bubble in 2007-2008. Previously, the International Monetary Fund (IMF) warned in its October 2025 World Economic Outlook that the rapid rise of artificial intelligence stocks could resemble the “dotcom bubble” of the 1990s. The IMF was one of the first institutions to publicly voice this concern. IMF Chief Economist [Pierre-Olivier Gourinchas said](https://www.kyivpost.com/post/62096) an abrupt repricing of tech stocks could occur if AI-driven productivity gains or earnings fail to meet expectations, potentially ending the current investment boom and posing broader risks to global macro-financial stability. [![Olena Hrazhdan](https://static.kyivpost.com/storage/members/avatar/author-1714895428-b.jpg)](https://www.kyivpost.com/authors/1062) [Olena Hrazhdan](https://www.kyivpost.com/authors/1062) Olena Hrazhdan is the Business Reporter at Kyiv Post, covering Ukraine’s markets, business, and economic policy. While she reports broadly on economic issues, her core focus is banking, finance, monetary and fiscal policy. Olena previously wrote for leading Ukrainian business media and became a Fellow of the International Monetary Fund’s Journalism Fellowship in 2024.
Shard	178 (laksa)
Root Hash	12359614870497757778
Unparsed URL	com,kyivpost!www,/post/71316 s443