The CEO of the Chinese tech giant, Eddie Wu, said on Alibaba's second-quarter earnings call on Tuesday that the company "doesn't really see much of an issue in terms of a so-called AI bubble." "We're not even able to keep pace with the growth in customer demand," Wu said, adding that the pace at which Alibaba can deploy new servers is insufficient. "In the next three years to come, AI resources will continue to be under supply," he said.
OpenAI has completed a deal to help employees sell shares in the company at a $500 billion valuation, propelling the ChatGPT owner past Elon Musk's SpaceX to become the world's largest startup. Current and former OpenAI employees sold about $6.6 billion of stock to investors including Thrive Capital, SoftBank Group Corp., Dragoneer Investment Group, Abu Dhabi's MGX and T. Rowe Price, a person familiar with the transaction said. That boosted the US company's price tag well past its previous $300 billion level