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But given the amount of hype surrounding the game-changing tech, there has been plenty of discussion around the possibility of an AI bubble, one that will eventually pop and send the market and the economy into a downward spiral.
However, billionaire investor Ken Fisher has a retort to that thesis, arguing that all the talk of an AI bubble might mean there actually isn’t one.
“The widespread discussion of AI as a bubble indicates fear in the market, which is the opposite of a real bubble characterized by euphoria and a belief in a fundamentally changed world,” Fisher, who has a net worth of $13.2 billion, said.
Fisher thinks today’s AI boom is completely different from the dot-com bubble of the late 1990s. Back then, many unprofitable startups depended on constant stock offerings to stay afloat, whereas today’s leading AI players are large, highly profitable companies financing their initiatives through strong cash flow and solid balance sheets.
