THE AI BOOM IS NOW IN A‘ DANGEROUS PHASE’
An overall investment of US $ 650bn in AI from major tech firms like Amazon, Google, Meta and Microsoft signifies the“ AI story has reached a more dangerous phase”, according to Greg Jensen, Co-Chief Investment Officer at Bridgewater Associates in an open letter to clients.
“ In this phase, the AI investment boom is still accelerating and is likely to continue to be less sensitive to traditional cyclical pressures such as interest rates or stock prices,” he says.
“ A lot of people with access to a ton of capital believe that with a massive sum of investment, they’ ll be able to control the universe. They are pushing to spend in line with those stakes, and only a change in their belief that this is attainable – not a decline in their stock price, or a turn in the AI hype cycle – is going to stop them.”
technologymagazine. com
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