Speaking to the press when visiting one of the Openai data centers, Altman answered the question of the possibility of “investment bubbles” in this field.
The CEO of Openai Sam Altman warned that the financial collapse could shake the industry.
Speaking to the press when visiting one of the giant Openai data centers being built in Abilene, Texas, Altman, when answering questions about the possibility of “investment bubbles” in this field, “we have done this for 10 years and we have decades ahead. There will be ups and downs and collapse in this process.”
“People will invest excessively and lose money, invest below and miss the income opportunities. Sometimes we will allocate capital in the wrong way. But in the long run, we believe that this technology will create unprecedented economic growth wave.”
Share is at a record level
According to the Wall Street Journal, the biggest growth motivation of the US economy in the last two quarters is not consumer spending but investing in artificial intelligence. According to Futurism, the proportion of artificial intelligence in spending has reached a record level.
For this reason, many economists warned that “if the artificial intelligence bubble broke, it could shake the entire global economy.” In fact, most of the huge artificial intelligence companies attracting billions of dollars in investment have not been able to offer a business model that can make a profit.
Altman made these disaster scenarios almost normal. Previously he said many times that “we are in artificial intelligence bubbles.” “Bubbles often form a small reality. Smart people are too excited about that reality. Are investors who are too excited about anyone in general? I think yes,” he told The Verge in August.
Why is Altman comfortable?
Altman has warned for many years that artificial intelligence can eliminate businesses, paralyze social paralysis with false information and even lead to “the script of destruction” will destroy mankind.
But such dark predictions are also the promotion of Openai's technology. The reason why Altman seemed so comfortable was that he could believe that even when the disaster happened, Openai would still be the winner.
He summarized this situation in his statement in August as follows:
“Someone will lose a huge amount of money, but we don't know who will lose.”
