Overview
- Speaking at the Fortune Global Forum in Riyadh on Oct. 27, Cristiano Amon said "everybody's playing to win" but it is premature to declare victors.
- He likened the cycle to the dot-com era and said AI’s long-term opportunity will be massive and likely underestimated.
- Amon said companies built for the required efficiency will be better positioned as competition intensifies.
- Investors continue to fund enormous buildouts, with reporting citing more than $155 billion in 2025 AI spending by the largest U.S. firms.
- Analysts highlight soaring valuations and concentration risk, while OpenAI’s megadeals with Nvidia, AMD, Broadcom and Oracle exemplify the engine driving the boom.