UBS CEO Says AI Investors Had Been Pricing for 'Perfection' Until Sector's Sharp Correction

UBS chief on the markets’ AI error, M&A and that Credit Suisse rescue

The Swiss giant’s global CEO, Sergio Ermotti, says markets are overestimating the near-term impact of artificial intelligence – and underestimating geopolitics.

UBS CEO says AI investors had been pricing for 'perfection' until sector's sharp correction

SYDNEY, Nov 9 (Reuters) - UBS Chief Executive Sergio Ermotti said on ⁠Monday a sharp correction in AI stocks over the last ‌few weeks had been a reaction to excessively high hopes that investors had had for the sector.

The head of UBS has warned markets were too optimistic ahead of the AI price fall - Commonwealth Union

UBS chief executive Sergio Ermotti said investors in artificial intelligence had pushed company share prices to levels that assumed all was well before a recent market downturn forced a reality check. Speaking at a financial industry conference in Sydney, Australia, Ermotti said the recent drop in AI-related shares was a healthy correction to unrealistic expectations. […]