Wall Street’s AI ‘bubble’ echoes dotcom excesses, Ray Dalio warns

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Financial Times 2d ago

Wall Street’s AI ‘bubble’ echoes dotcom excesses, Ray Dalio warns - Financial Times

Quick Summary:

Dalio, who retired as chair of Bridgewater in 2021 but remains on the board, has long advocated economic engagement with China.

The late 1990s saw a run-up in tech valuations, powered in part by low interest rates and growing adoption of the internet, followed by a brutal correction that came as Alan Greenspan’s Fed tightened monetary policy.

Reinforcing the elusiveness of AI profit, OpenAI founder Sam Altman wrote on X this month that the company was losing money on its $200-per-month ChatGPT Pro plan because of unexpectedly heavy usage.