“That doesn’t mean anything that is happening isn’t real. AI is real, and it is going to change every industry.”

James Anderson voices concern over soaring valuations of artificial intelligence firms

“People will overinvest and lose money, and underinvest and lose a lot of revenue,” Altman said while touring a huge new data center in Texas.

Another key difference between now and the earlier boom-bust era is that the Federal Reserve is lowering rates instead of raising them.

“That doesn’t mean anything that is happening isn’t real. AI is real, and it is going to change every industry.”

ChatGPT, Gemini and Claude are extraordinary feats of engineering, but they don’t represent sustainable AI.

“AI better deliver for the U.S., or its economy and markets will lose the one leg they are now standing on,” warns Ruchir Sharma of Rockefeller International.