Silicon Valley is "alive and well," but the level of prosperity depends on the tech sector, Oracle Chairman Jeffrey Henley told CNBC on Thursday.
"Certainly the tech industry is doing reasonably well," Henley said in a "Squawk Box" interview. "It feels a little bit in some of the markets like social media and cloud areas like the bubble 10 years, 15 years ago."
There's been a debate on Wall Street about possible asset bubbles developing since the Federal Reserve issued a report saying that valuations are stretched for smaller social media and biotech stocks. Federal Reserve Chair Janet Yellen went so far as to pledge this month on Capitol Hill to watch this closely.
As for the overall economy, which the government said grew by 4 percent in the second quarter, Henley said: "It seems to like the economy is slowing recovering. We'd all like to see it recover faster." The economic contraction in the first quarter was not as bad as previously thought, the Commerce Department said Wednesday.