When OpenAI’s Sam Altman told reporters in San Francisco earlier this year that the AI sector is in a bubble, the American tech market reacted almost instantly.
Combined with the fact that 95 per cent of AI pilot projects fail, traders treated his remark as a broader warning. Although Altman was referring specifically to private startups rather than publicly traded giants, some appear to have interpreted it as an industry-wide assessment.
Tech billionaire Peter Thiel sold his Nvidia holdings, for instance, while American investor Michael Burry (of The Big Short fame) has made million-dollar bets that companies like Palantir and Nvidia will drop in value.
