Overview

• Jeff Bezos told an audience in Turin that the current frenzy fits an industrial bubble, stressing that the underlying technology is real and will ultimately deliver "gigantic" benefits.
• Bezos cited signs of froth such as tiny startups attracting multi‑billion‑dollar funding with no product, and compared the cycle to 1990s biotech where many investors lost money but society gained breakthroughs.
• Goldman Sachs CEO David Solomon said equities could see a drawdown within 12–24 months as enthusiasm pushes prices ahead of fundamentals, predicting clear winners and losers yet remaining optimistic about AI’s enterprise potential.
• The remarks come during a surge in capital for chips and data centers and at record private valuations, including OpenAI’s reported $500 billion valuation and large infrastructure deals tied to the buildout.
• Other industry figures, including Sam Altman and Mark Zuckerberg, have acknowledged bubble‑like conditions, and some analysts have issued far more extreme misallocation estimates, underscoring wide disagreement on the scale of risk.