The tech rally witnessed this year can be primarily attributed to the wider adoption of artificial intelligence (AI) and the potential it holds for companies in this space. However, veteran venture capitalist Alan Patricof, who invested early in successful stocks like Apple, is sounding a note of caution regarding the growing AI hype.
Patricof, founder of venture capital firm Alan Patricof Associates, believes investors should approach AI companies with caution. He noted that an “awful lot” of companies are rushing into the AI space, with valuations often reaching into the billions.
