Is the AI boom an AI bubble? Wall Street and Silicon Valley increasingly think so.This week JPMorgan Chase CEO Jamie Dimon said "a lot of assets" appear to be "entering bubble territory."Earlier this month Amazon founder Jeff Bezos said the AI market was an "industrial bubble" where stock prices were "disconnected from the fundamentals" of their businesses.But big tech shows little sign of pausing its massive investments in artificial intelligence. So how is it that A-I could change the world ... and is also maybe in a bubble?Stanford economist Jared Bernstein, a former White House chief economic adviser and co-author of a recent New York Times op-ed on the subject, explains.For sponsor-free episodes of Consider This, sign up for Consider This+ via Apple Podcasts or at plus.npr.org. Email us at [email protected] episode was produced by Brianna Scott. It was edited by Patrick Jarenwattananon. Our executive producer is Sami Yenigun.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy
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This partnership, I mean, this is, you know, monumental in size.
That is the CEO of NVIDIA, Jensen Wong. His company makes advanced computer chips. And he went on CNBC to talk about NVIDIA's plans to invest up to $100 billion in open AI. That's the creator of ChatGPT.
There's no question that AI is transformational for every industry, but the important thing is the AI infrastructure will be everywhere and will power computing experiences for everyone every day.
A hundred billion dollars is a whole lot of money, but... It's only one fraction of big tech's recent spending spree on artificial intelligence. In fact, the Financial Times reports that OpenAI has already announced about $1 trillion worth of deals with other companies this year alone. Right now, a lot of big names in tech are all in on AI.
The biggest impact that AI is going to have is it is going to affect every company in the world. It is going to make their quality go up and their productivity go up.
That's Amazon founder Jeff Bezos speaking at Italian Tech Week earlier this month, where he also said... The second thing that happens when people get very excited, as they are today about artificial intelligence, for example, is every experiment gets funded. Every company gets funded. The good ideas and the bad ideas. And investors have a hard time in the middle of this excitement process.
distinguishing between the good ideas and the bad ideas.
Bezos said that AI was in a, quote, industrial bubble. That right now, AI stock prices were, quote, disconnected from the fundamentals of their businesses. So how is it that AI could change the world and is also maybe in a bubble?
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