Альтман предсказывает падение на рынке ИИ, но подчеркивает огромный потенциал технологий Translation: Altman predicts a downturn in the AI market but emphasizes the immense potential of the technologies.

Sam Altman, the CEO of OpenAI, believes that the artificial intelligence market is in a bubble. He expressed this view to a small group of journalists, as reported by The Verge.

«When bubbles emerge, intelligent people often get overly excited by a grain of truth. Are we currently in a phase where investors are generally too enthusiastic about artificial intelligence? In my opinion, yes. Is AI the most important event we’ve experienced in a long time? I also believe so,» he stated.

Altman mentioned the term «bubble» three times in just 15 seconds, joking that «someone will surely write a sensational headline about this.»

His remarks have heightened concerns among experts and analysts about the excessively rapid pace of investments in the AI sector. In July, the Chief Economist of Apollo Global Management, Torsten Slok, proclaimed that the current AI bubble is even more pronounced than the dot-com boom. He noted that the top 10 companies in the S&P 500 index are now more overvalued.

Similar warnings have been issued before by Alibaba co-founder Joe Tsai and Bridgewater Associates founder Ray Dalio.

Ray Wang, a director of research in semiconductors, supply chains, and emerging technologies at Futurum Group, acknowledged the validity of Altman’s comments, but asserted that the risks depend on specific companies.

«From the perspective of broader investments in AI and semiconductors, I don’t view it as a bubble. Fundamental indicators across the supply chain remain strong, and the long-term trend trajectory supports ongoing investments,» he said.

However, the expert added that there is an increasing volume of speculative capital flowing into companies with weak performances and merely presumed potential.

Following the release of GPT-5, Altman indicated that the term «artificial general intelligence» (AGI) is becoming less relevant. His company is expanding its activities beyond AI models to include consumer hardware, brain-computer interfaces (BCI), and social media.

In the «near future,» OpenAI plans to spend trillions of dollars on building data centers. The firm is also interested in acquiring Chrome.

Dan Ives, an analyst at Wedbush, stated that demand for AI infrastructure has surged by 30-40% in recent months. He believes that there are elements of a bubble in certain market segments, but the revolution in artificial intelligence and autonomous systems is just beginning to unfold.

«The real impact in the medium and long term is actually underestimated,» he noted.

Rob Rowe from Citi urged against comparing the current growth of the AI market with the dot-com boom.

«Back then, there was a lot of debt capital and few profit-making companies. Now we are talking about firms with very solid revenues and substantial cash flow. They are using these funds to finance a significant portion of growth. In this respect, the situation is somewhat different,» the expert emphasized.

The current wave of investments in artificial intelligence is driven by structural changes in the global economy, particularly the rapid growth of digital services, he added.

The dot-com crash destroyed many companies but gave rise to the modern internet. Altman believes a similar fate awaits AI, with several downturns followed by a sustainable transformation.

«I genuinely think some investors will get burned here, and that’s unfortunate. I don’t want that. But the value that AI will bring to society will be immense,» concluded the CEO of OpenAI.

To remind, in August 2024, the hedge fund Elliott Management stated that AI technology is «overvalued.»