"Among the headline announcements this year: ChatGPT parent company Open AI, Softbank and Oracle pledged to invest $500 billion (433 billion) in AI supercomputers, Open AI and chip giant Nvidia announced a $100 billion fund to maintain the United States' dominance in advanced chips, while Chinese tech giants Alibaba and Tencent hiked investments to help speed up China's ambition to lead AI by 2030."
"Since ChatGPT's debut in November 2022, AI-related stocks have added an estimated $17.5 trillion in market value, according to Bloomberg Intelligence, driving around 75% of the S&P 500's gains and propelling companies like Nvidia and Microsoft to record-breaking valuations. Corporations are hesitant over AI adoption But signs of a hangover are getting harder to ignore. AI usage by corporations is slipping, spending is tightening and the machine learning hype has massively outpaced the profits."
Global investment in artificial intelligence has surged, with major pledges including $500 billion from Open AI, Softbank and Oracle for supercomputers and a $100 billion fund from Open AI and Nvidia to support US chip leadership. Chinese firms Alibaba and Tencent increased investments aiming for national AI leadership by 2030. Since ChatGPT's November 2022 debut, AI-related stocks added an estimated $17.5 trillion in market value, driving about 75% of the S&P 500's gains and boosting firms like Nvidia and Microsoft to record valuations. Corporate AI adoption is slipping, with usage at large firms falling from nearly 14% to under 12%. Economists warn that without rapid development of durable use cases, the investment boom could falter.
Read at www.dw.com
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