In the last tech bubble, companies were spending more on gaining and keeping employees. Employees earning more money spend more money, generally speaking. That consumption drives the economy. (It turns out, the real job creators were the average person.)
In the AI bubble, companies are holding off hiring and are not interested in retaining employees. That hurts consumption, and thus the economy isn't booming.
The rich are getting richer, but that doesn't help as much to drive the economy - they don't need the extra money, thus they are less likely to spend it. Give a person making $30k a year a $1k raise, and they'll likely find something to quickly spend it on. Maybe they'll finally fix their car. Maybe they'll buy something they need but couldn't afford before. Maybe they'll actually go out to eat for a change. That all drives the economy. But give a person making $3 million a year a $1k raise, and they don't have the same need to spend it.
Which is likely why we see the stock market booming even though the economy is mediocre. Money that's not needed is often invested.