Google CEO Sundar Pichai admits concern about growing AI bubble concerns

The head of Google’s parent company says his firm and every other tech business would take a hit if the artificial intelligence industry crashes, as worries grow over sky-high prices and massive spending in the sector. Sundar Pichai, who runs Alphabet, told the BBC on Tuesday that the present surge in AI spending represents an “extraordinary moment” but said he sees “elements of irrationality” in how the market behaves. His words bring to mind past warnings about “irrational exuberance” from the dotcom crash years ago. Market watchers have been arguing about whether current AI company prices make sense. When asked how Google would handle a possible market crash, Pichai said his company could probably manage but stressed. “I think no company is going to be immune, including us.” Alphabet’s stock price has jumped about 46% since January, driven by investor confidence in its ability to take on ChatGPT creator OpenAI....

https://www.cryptopolitan.com/google-boss-warns-ai-bubble-burst/