Global artificial intelligence-linked stocks plummeted on Tuesday after Broadcom CEO Hock Tan said many AI investors are behaving like casino gamblers, betting on something they have very little understanding of.
Tan’s comments rattled the already fragile global AI trade, while several analysts continue to warn of a bubble-like situation following the excessive frenzy and massive spending by hyperscalers. “A lot of investors have no clue what they are investing in. They set very extreme expectations only to find out that it’s almost like they are in a casino,” Tan said during an event in Singapore.
