Overview

• Jeff Bezos told Italian Tech Week that AI investing shows classic bubble traits, with every experiment getting funded, yet he insisted the technology is real and its societal benefits will be “gigantic.”
• Goldman Sachs CEO David Solomon cautioned that equity markets could see a drawdown within 12 to 24 months, noting that cycles of rapid capital formation typically produce both winners and losers.
• Bezos highlighted unusual funding dynamics, citing tiny teams attracting billions before products exist, while reporters noted neocloud providers and other AI infrastructure players raising money even before building capacity.
• The AI boom has lifted major indexes and swelled valuations, with OpenAI reported at about $500 billion in a secondary sale and BlackRock’s unit in talks to buy Aligned Data Centers at roughly $40 billion.
• Other prominent figures, including Sam Altman, Mark Zuckerberg, Ray Dalio, Joe Tsai and Thomas Siebel, have acknowledged bubble-like conditions even as they argue the long-term industrial gains could outweigh investor losses.