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The Guardian - UK

Technology

Dan Milmo and Graeme Wearden

Leading UK tech investor warns of ‘disconcerting’ signs of AI stock bubble

James Anderson OpenAI Nvidia Anthropic Artificial Intelligence Stock Market

AI letters and robot hand — James Anderson says he had not seen signs of an investment bubble in AI until recently. Photograph: Dado Ruvić/Reuters

A leading British tech investor has described soaring valuations of artificial intelligence companies as “disconcerting”, amid concerns of an AI stock market bubble.

James Anderson was an early backer of Tesla, Amazon and China’s Tencent and Alibaba, generating vast returns for Baillie Gifford’s flagship fund. Now at the Italian investment company Lingotto, Anderson said he had not seen signs of an investment bubble until recently, when the ChatGPT developer, OpenAI, and its rival Anthropic announced hefty valuation increases.

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