Experts have dispelled Altman's concerns about an AI bubble.

# Experts dismissed Altman's concerns about the existence of an AI bubble.

OpenAI CEO Sam Altman believes that the artificial intelligence market is in a bubble. He made this statement to a small group of journalists, reports The Verge.

"When bubbles arise, smart people become overly excited by a grain of truth. Are we currently in a phase where investors are generally too excited about artificial intelligence? In my opinion, yes. Is AI the most important event in a very long time? In my opinion, yes as well," he noted.

Altman said the word "bubble" three times in 15 seconds, jokingly adding that "someone will definitely write a sensational headline about this."

His comments heighten the concerns of experts and analysts regarding the excessively high pace of investments in the artificial intelligence sector. In July, the chief economist of Apollo Global Management, Torsten Slok, stated that the current AI bubble is even stronger than the dot-com boom. He pointed out that the 10 largest companies in the S&P 500 index are currently overvalued.

Similar warnings were previously expressed by Alibaba co-founder Joe Tsai and Bridgewater Associates founder Ray Dalio.

The director of research in semiconductors, supply chains, and new technologies at Futurum Group noted that Altman's words are justified, but the risks depend on specific companies.

"From the perspective of broader investments in artificial intelligence and semiconductors, I do not see this as a bubble. The fundamental indicators across the supply chain remain strong, and the long-term trajectory of the trend supports further investments," he said.

However, the expert added that the volume of speculative capital is increasing, which is directed towards companies with weak performance and only presumed potential.

After the release of GPT-5, Altman stated that the term "artificial general intelligence" (AGI) is becoming outdated. His company is expanding its operations beyond AI models, covering consumer hardware, brain-computer interfaces (BCI), and social media.

In the "near future", OpenAI plans to spend trillions of dollars on building data centers. The company is also interested in purchasing Chrome.

Other Opinions

Wedbush analyst Dan Ives stated that demand for AI infrastructure has increased by 30-40% in recent months. In his opinion, there are elements of a bubble in certain areas of the market, but the revolution in artificial intelligence and autonomous systems is just beginning to develop.

"The real impact in the medium and long term is actually underestimated," he said.

Rob Rowe from Citi urged not to compare the current growth of the AI market with the dot-com boom.

"At that time, there was a lot of debt capital and few profitable companies. Now we are talking about firms with very solid revenues and large cash flow. With these funds, they finance a significant part of their growth. In this regard, the situation is somewhat different," the expert emphasized.

The current wave of investment in artificial intelligence is driven by structural changes in the global economy, particularly the rapid growth of digital services, he added.

The dot-com crash destroyed many companies but gave birth to the modern internet. According to Altman, something similar will happen with AI: several failures will be followed by a sustainable transformation.

"I really think that some investors will get burned here, and that's bad. I don't want that. But the value that AI will create for society will be enormous," concluded the CEO of OpenAI.

It is worth noting that in August 2024, the hedge fund Elliott Management stated that artificial intelligence technology is "overrated."