"positively impacting every part of the business"
"The difference between the IT bubble in the 1990s and the AI bubble today is that the top 10 companies in the S&P 500 today are more overvalued than they were in the 1990s,"
"I am not here to belittle AI, it's the future, and I recognise that we're just scratching the surface in terms of what it can do,"
"I also recognise massive capital misallocation when I see it. I recognise insanity, I recognise hubris."
Alphabet reported 14% second-quarter revenue growth while CEO Sundar Pichai said AI is positively impacting every part of the business. Most firms are not seeing comparable gains, and the AI investment market is sliding toward bubble territory. Torsten Sløk warned that the top ten S&P 500 companies are more overvalued now than during the 1990s IT bubble, invoking the dot‑com crash that erased roughly $5tn in share value. Hedge‑fund managers cite massive capital misallocation and hubris around data‑centre economics. An MIT study found only 5% of businesses using generative AI experienced rapid revenue acceleration, yet US tech firms plan very large AI spending.
Read at ComputerWeekly.com
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