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<\/p>\n Read in app<\/p>\n <\/a> <\/p>\n This story is available exclusively to Business Insider It’s AI summer, but some business leaders seem concerned that they’re partying like it’s 1999, just before the dot-com bubble burst<\/a>.<\/p>\n OpenAI CEO Sam Altman recently told reporters that the AI market might be too hot, renewing the debate over whether there’s an AI bubble.<\/p>\n Here’s what leading tech CEOs and business leaders are saying about what’s ahead.<\/strong><\/p>\n Sam Altman<\/p>\n OpenAI CEO Sam Altman said investors are overexcited about AI.<\/p>\n OpenAI CEO Sam Altman said that the AI market is in a bubble.<\/p>\n “When bubbles happen, smart people get overexcited about a kernel of truth,” Altman recently told reporters, per The Verge.<\/p>\n Altman said this describes the state of play.<\/p>\n “Are we in a phase where investors as a whole are overexcited about AI? My opinion is yes. Is AI the most important thing to happen in a very long time? My opinion is also yes,” he said.<\/p>\n Eric Schmidt<\/p>\n Former chairman and CEO of Google Eric Schmidt says people are misreading the signs.<\/p>\n Shahar Azran\/Getty Images<\/p>\n Former Google CEO Eric Schmidt<\/a> said just because it looks like a bubble doesn’t mean that it is.<\/p>\n “I think it’s unlikely, based on my experience, that this is a bubble,” Schmidt said in July during an appearance at the RAISE Summit in Paris. “It’s much more likely that you’re seeing a whole new industrial structure.”<\/p>\n Schmidt said it takes solace in where the hardware and chips markets stand.<\/p>\n “You have these massive data centers, and Nvidia is quite happy to sell them all the chips,” he said. “I’ve never seen a situation where hardware capacity was not taken up by software.”<\/p>\n Joe Tsai<\/p>\n Alibaba cofounder Joe Tsai has worries about one particular aspect of AI investments.<\/p>\n Gonzalo Fuentes\/Reuters<\/p>\n Alibaba cofounder Joe Tsai <\/a>has voiced concerns about the scramble for data centers needed to help power the next generation of AI models.<\/p>\n “I start to see the beginning of some kind of bubble,” Tsai told the HSBC Global Investment Summit in March, Bloomberg News reported.<\/p>\n Tsai said he’s worried the building rush might outpace demand.<\/p>\n “I start to get worried when people are building data centers on spec,” he said. “There are a number of people coming up, funds coming out, to raise billions or millions of capital.”<\/p>\n Lisa Su<\/p>\n Lisa Su<\/p>\n Thomas Padilla\/AP<\/p>\n AMD CEO Lisa Su<\/a> says the bubble talk “is completely wrong.”<\/p>\n “For those who are talking about a ‘bubble,’ I think they’re being too narrow in their thinking of, what is the return on investment today or over the next six months,” Su told Time Magazine in 2024. “I think you have to look at this technology arc for AI over the next five years, and how does it fundamentally change everything that we do? And I really believe that AI has that potential.”<\/p>\n Ray Dalio<\/p>\n Hedge fund icon Ray Dalio says people are confusing revolutionary tech with successful investments.<\/p>\n
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