Bill Gates has warned that some AI companies with high valuations will lose out in the “hyper competitive” AI industry, as the investors weigh up whether a bubble is about to burst.
“AI is the most important thing going on,” the Microsoft
founder and philanthropist told CNBC’s Tania Bryer at Abu Dhabi Finance Week, amid soaring capital expenditures and a slate of circular deals giving the market jitters.
“Does it mean all of these companies with high valuations will be winners? No, it’s going to be hyper competitive,” Gates said Monday.
“AI is only a bubble in the sense that not all of these valuations will end up going up. Some of them will go down,” he said, adding that AI was “a deeply profound technology that will reshape the world. There’s not the slightest doubt about that.”
