Investors on Wall Street remain optimistic about the growth potential of artificial intelligence, even with OpenAI CEO Sam Altman indicating that some may face losses due to inflated valuations. Major tech companies like Microsoft, Amazon, Alphabet, and Meta are increasing investments to satisfy rising AI demands. Altman cautions about the similarities to the 1990s dot-com bubble, mentioning that while AI is significant, current startup valuations may be excessive. He predicts that although some investors may face losses, the long-term benefits of AI will outweigh these short-term impacts.
"When bubbles happen, smart people get overexcited about a kernel of truth. If you look at most of the bubbles in history, like the tech bubble, there was a real thing. Tech was really important."
"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."
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