Posted 4/13/2024, 3:00:00 PM
AI Bubble Reaches Euphoric Heights as ChatGPT Mania Powers Massive Tech Investments
- ChatGPT's launch in November 2022 sparked immense interest and investment in AI, marking the "displacement" stage of a bubble
- This led to a boom as big tech rushed to release their own AI products and startups proliferated, funded by hungry investors
- We're now in the "euphoria" stage where caution is gone and huge sums are being gambled on the belief that more data and computing power will lead to AGI
- The "profit-taking" stage is yet to come as no one is making money from AI besides hardware providers
- The bubble will inevitably burst when investors realize AI's limits or governments intervene over concerns about corporate power and environment impact