During the first season of Disney's (DIS) ABC-TV show "Shark Tank", fellow host Barbara Corcoran sarcastically called Kevin O'Leary Mr. Wonderful while he was negotiating a tough deal.
The nickname stuck and has followed him ever since.
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Now, O'Leary is commenting about recent revelations on testing of Microsoft's (MSFT) new artificial intelligence (AI) which it is using for its search engine Bing.
"There is a ridiculous #hysteria emerging around an extended conversation a @NYTimes reporter had with @Microsoft new @Bing powered by @gbt_chat," he wrote on Twitter. "What do you expect? It's a nascent technology. This in no way changes my investment theses on #AI I'm staying long. Everyone #Chillax!"
Asked on Fox Business TV if AI such as ChatGPT is a game-changer, O'Leary makes his stance on the subject clear.
"I think it is, actually," he said. "And you can see it reflected in the diminishment of the market cap of Google (GOOGL)."
"It makes sense because, you think about the format of what ChatGPT is," he continued. "It's not brain surgery. They're basically scraping the Internet itself in a new way. So they're taking the data you can get on Google, which you find on all the links that are listed, and people are buying prominence on those links. It's a form of advertising."
O'Leary then talked about how the search experience is changing with the implementation of AI.
"You don't need to do that any more on ChatGPT," he said. "It's going to affect how it's advertised, more of a subscription model."
O'Leary then compares his view that Google skipped an opportunity in the AI space to how Microsoft was late to the market on the Internet in the 1990s.
"This is the proverbial Google killer," he said. "And I'd remind you, you've been listening for a decade long about how they're investing in moonshots. The only moonshot Google should have invested in was this. AI. They missed it. This is like Microsoft missing on the Internet in the first iteration."
