Банк Англии предостерегает: потенциальный пузырь в сфере ИИ может угрожать финансовой стабильности Translation: Bank of England warns: potential bubble in AI sector could threaten financial stability

The monetary authority of the United Kingdom has issued a warning regarding the increasing risks of a «sharp market correction» due to the overvaluation of AI companies and threats to the independence of the Federal Reserve, as reported by Bloomberg.

In its quarterly financial stability report, the Bank of England observed that asset values continue to rise while credit spreads are narrowing. This trend occurs amid «considerable uncertainty regarding global macroeconomic prospects.»

The regulator believes that stock markets are overvalued, particularly within the technology sector that deals with artificial intelligence. This sector is viewed as especially vulnerable if «expectations concerning the impact of AI become less optimistic.»

Concerns about the formation of a bubble in the artificial intelligence sector have intensified alongside record growth in American stocks, with the Nasdaq 100 index gaining 18% since the beginning of the year.

The market enthusiasm has sparked comparisons to the dot-com bubble of the late 1990s, which ended in a crash and a series of bankruptcies. However, not all market participants share this pessimism. Analysts from Goldman Sachs maintain that investor sentiment indicators suggest sustained optimism and anticipation of further growth.

The Bank of England highlighted «significant bottlenecks» in the development of artificial intelligence that could affect company valuations. These issues include shortages of electricity, data, or resources, as well as conceptual breakthroughs that could shift perceptions regarding the infrastructure needed for AI operations.

Another threat arises from the Federal Reserve of the United States. The independence of the agency has come under pressure following attempts by Donald Trump to alter the makeup of the board and his consistent attacks on Jerome Powell and the monetary policy he pursues.

«The operational independence of the central bank is fundamental to financial stability. A sudden or substantial change in perceptions of the Federal Reserve’s reliability could lead to a sharp reassessment of the value of dollar-denominated assets, including the U.S. government debt market, triggering increased volatility, risk premiums, and a range of global repercussions,» stated the minutes of the Financial Policy Committee meeting.

Such developments could adversely impact global markets, as borrowing rates in other countries often correlate with those in the U.S.

It is worth noting that in October, OpenAI became the most valuable private company in the world, with an estimated worth of $500 billion.