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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"When Bubbles Happen...": Sam Altman Says AI Hype Compares To Dot Com Boom Before 2000 Crash
"When Bubbles Happen...": Sam Altman Says AI Hype Compares To Dot Com Boom Before 2000 Crash OpenAI CEO Sam Altman says investor enthusiasm for artificial intelligence may already look like a bubble., according to CNBC. “Are we in a phase where investors as a whole are overexcited about AI? My opinion is yes. Is AI the most important thing to happen in a very long time? My opinion is also yes,” he told reporters last week. “When bubbles happen, …
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Total News Sources45
Leaning Left4Leaning Right3Center11Last UpdatedBias Distribution61% Center
Bias Distribution
- 61% of the sources are Center
61% Center
L 22%
C 61%
R 17%
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