US EditionOpenAI CEO Sam Altman Believes We're in an AI Bubble
Sam Altman compares the AI surge to the dot-com bubble, warning of overvaluation despite OpenAI’s projected $20 billion revenue and $500 billion valuation in a $6 billion stock sale.
- Thursday, Sam Altman, OpenAI CEO, admitted the AI sector is overinflated, warning billions plowed into the arms race risk a bubble akin to the dot-com crash.
- Amid a wave of speculative capital, venture firms, hedge funds and sovereign wealth funds poured billions into early-stage AI companies, with OpenAI raising $40 billion at a $300 billion valuation in March.
- Altman likened the AI funding rush to `the tech bubble` of the late 1990s, saying `When bubbles happen, smart people get overexcited about a kernel of truth` during a dinner with reporters.
- OpenAI is preparing a $6 billion secondary stock sale at roughly a $500 billion valuation, risking significant losses for investors, as Altman likened the AI bubble to 'the tech bubble.'
- Whether the bubble bursts or fuels the next trillion-dollar wave remains the trillion-dollar question, as Altman emphasizes AI’s long-term transformative potential despite short-term corrections.
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47 Articles
47 Articles
OpenAI’s Sam Altman points to AI ‘bubble’
Sam Altman described artificial intelligence as a “bubble,” but also said the technology was “the most important thing to happen in a very long time.” Investors are chasing “a kernel of truth” but are “overexcited” about AI, the OpenAI CEO said, with some valuations becoming “insane.” A number of experts agree: The Apollo investment group’s chief economist noted that tech firms’ price-earnings ratios are unusually elevated, reminiscent of the la…
·New York, United States
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Sam Altman, the boss of OpenAI, compares the current fever around artificial intelligence to the Internet bubble of the 1990s. A bubble that would already show signs of explosion. ...
·Brussels, Belgium
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Coverage Details
Total News Sources47
Leaning Left5Leaning Right3Center12Last UpdatedBias Distribution60% Center
Bias Distribution
- 60% of the sources are Center
60% Center
L 25%
C 60%
15%
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