Alibaba's chair issues 'bubble' warning about U.S. AI investments

Alibaba Group chair Joseph Tsai (Credit: Elsa—Getty Images)

An AI bubble may be forming in the U.S., according to Alibaba Group chair Joe Tsai.

Speaking Tuesday at the HSBC Global Investment Summit in Hong Kong, Tsai said he was “astounded” by the AI data center investment figures he was seeing in the U.S., citing the $500 billion that OpenAI, SoftBank, and Oracle say they will spend on the Stargate project announced back in January.