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New York —
At this point, even the concept of an “AI bubble” seems to be a bubble. (In fact, Deutsche Bank analysts said last month that the “AI bubble” bubble has already burst.)
Perhaps some corners of the internet are bored of the bubble talk. That’s not making the market any less, um, bubbly.
Just this week, the Financial Times wrote that 10 AI startups — not a dollar in profit among them — have gained nearly $1 trillion in market value over the past 12 months. (That is, to use a technical term, bananas.)
Even as Wall Street analysts and tech media increasingly question the hype, drawing uneasy comparisons to the late 1990s, the AI industry’s response has been to shrug and watch their valuations tick higher and higher. The AI faithful believe the technology will disrupt (in a good way, hopefully!) virtually every aspect of modern life, from phone operating systems to pharmaceuticals to finance.
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