"The financial services company, in a note to investors this week, said that it believes the AI story is just getting started - and the investments that seem huge today will be dwarfed by the benefits AI will deliver. Long term, the investment bank says that AI adoption could add $20 trillion to the U.S. economy. AI, according to Goldman Sachs, is already delivering those gains in productivity when deployed right."
"AI is presenting opportunities not fully appreciated or understood yet,"
"AI itself is not a bubble. That's a crazy concept... We are on the precipice of a major, major revolution in a way that companies operate,"
"So, if you say to yourself, is AI in a bubble, I feel you have to get very granular on how you're going to answer that, because in the U.S., we're starting to gain traction,"
U.S. futures opened sharply lower, with the S&P 500 down about 66 points, SPY off roughly $6.45, the Dow down 304, and the Nasdaq down 355. Traders trimmed expectations for a December quarter-point Federal Reserve rate cut to a 52% probability, down from prior estimates. Major technology names including Nvidia, AMD, and Palantir extended losses and sector ETFs weakened as renewed concern about an AI valuation bubble emerged. Some analysts countered that view, with Goldman Sachs forecasting large long-term economic gains from AI adoption and JPMorgan leadership calling AI a transformative opportunity rather than a bubble.
Read at 24/7 Wall St.
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