Why BlackRock's Rick Rieder feels 'a bit more relaxed' about AI bull market than dotcom era

Rick Rieder oversees roughly $2.4 trillion in assets for BlackRock . He has been at the world's biggest money manager for close to two decades now, and he has seen a lot take place in the market. But, he says, nothing like this. "I think we're going through an extraordinary period of time. I don't think we've ever seen anything like this," he told CNBC's Scott Wapner at the CNBC CEO Council Summit in Washington, D.C., on Tuesday. Faced with the choice between "a lot of uncertainty" and a market that continues to push higher, Rieder concludes, "I think you gotta, you gotta stay in it." This view is not new for Rieder, who is chief investment officer of global fixed income and head of the global allocation investment team at BlackRock. He told Wapner in August of last year that this was the best investing environment he had ever seen. But nothing has changed his view to the contrary since, even as the mega-cap tech stocks spend more and more on AI and concerns rise about a dotcom-bubble like environment . His view of the stock market is not necessarily for outsize gains from here. A market that is doing "extremely well," he said, "will probably continue to do okay." But Rieder says the trends are in place, both structurally and technically, to believe the bull market has more room to run. For one, the cash keeps coming in. "There's a tremendous amount of cash," he said. "Even with the IPO calendar, which is large. …