Weekly Espresso
An interview with OpenAI chief Sam Altmann raised question marks about the pace of AI investments and sparked an equity sell-off last week. While comparing the current dynamic to the dot-com bubble, Altmann said, “Are we in a phase where investors 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.” Before going on to add, “When bubbles happen, smart people get overexcited about a kernel of Truth”. US markets, particularly the NASDAQ, fell in response but did bounce back on Friday following a speech by Fed Chair, Jerome Powell.