ChatGPT's father compares AI to the dot-com bubble

Sam Altman at an event held in 2023. Photo: X/@sama .

As economists debate the possibility that the stock market is in an AI bubble that could soon burst like the “dot-com bubble,” OpenAI CEO Sam Altman has acknowledged the risk.

“Are we in a period where investors are getting too excited about AI? I think so,” Altman said in a lengthy interview with The Verge and other reporters on the evening of August 14.

In an in-depth discussion, Altman compared the market's reaction to AI to the dot-com bubble of the 1990s, when the value of internet startups skyrocketed before crashing in 2000.

“When bubbles happen, smart people get too excited about a real nucleus,” Altman said. He said that when you look back at the history of investment crashes, there is a core element like technology or the internet. All of them are really important, great advances, but investors get too excited.

He said it was “crazy” that some AI startups with just “three people and an idea” were getting funding at such high valuations. “That’s not rational behavior. I think someone is going to get hurt,” Altman warned.

Over the past year, the tech world has seen several AI startups, including Safe Superintelligence, led by OpenAI co-founder Ilya Sutskever, and Thinking Machines, founded by former OpenAI CTO Mira Murati, raise billions of dollars.

"There will be people who lose a lot of money and a lot of people who make a lot of money. We don't know who that is. My personal belief, although I may be wrong, is that overall this will be a big benefit to the economy," Altman added.

Open AI CEO hopes to get past the potential bubble burst ahead and think about the not-so-distant future, when the company behind ChatGPT spends trillions of dollars building data centers.

Source: https://znews.vn/cha-de-chatgpt-vi-ai-nhu-bong-bong-dot-com-post1577335.html