Sam Altman believes the AI market is as inflated as the dot-com bubble
OpenAI CEO Sam Altman said that artificial intelligence is one of the most important developments in a «very long time,» which has created excessive hype around the AI market.
OpenAI CEO Sam Altman said that artificial intelligence is one of the most important developments in a «very long time,» which has created excessive hype around the AI market.
He said this in an interview with The Verge.
«When bubbles pop, smart people get overly excited about a grain of truth. Are we in a phase where investors in general are overly excited about AI? In my opinion, yes. Is AI the most important development in a very long time? In my opinion, yes», — Altman said.
The OpenAI chief’s words refer to the famous «dot-com bubble» — the collapse of the stock market and Internet companies that caused mass enthusiasm among investors in the late 1990s. From March 2000 to October 2002, the Nasdaq index lost almost 80% of its value after many of these companies failed to generate revenue or profits.
Many experts are talking about the AI bubble, pointing to the huge, rapid investment in the industry. Apollo Global Management Chief Economist Thorsten Slok believes that AI could be an even bigger bubble than the dot-coms, and the top 10 companies in the S&P 500 are now even more overvalued than they were in the 1990s.
Many fears about the AI bubble reached a peak earlier this year when Chinese startup DeepSeek released a competing reasoning model. The company claimed that one version of its advanced large language models had been trained for less than $6 million, a fraction of the billions spent by U.S. AI market leaders such as OpenAI, though those claims were also met with some skepticism.
Recall that the company previously conducted a controversial launch of the GPT-5 model. Many users noted that the chatbot’s responses became slower, shorter, and less accurate compared to previous versions.
Sam Altman promised to fix this, saying that GPT-5 «will appear smarter.» He added that OpenAI would make it «more transparent about which model is answering a given query» and increase usage limits for Plus users.
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