Investors are getting “overexcited” about artificial intelligence, with $320 billion expected to be spent on AI infrastructure this year, according to OpenAI CEO Sam Altman. Altman compared the current AI boom to the late-1990s dot-com frenzy, cautioning that hype could lead to investor losses. Meanwhile, major tech companies like Microsoft, Meta Platforms, Amazon, and Alphabet are aggressively investing in AI infrastructure. Analysts estimate that total AI-related investments among tech firms could exceed $320 billion this year. OpenAI is expanding its focus on enterprise adoption and partnerships to extend the use of AI systems across industries.

Amidst the AI revolution, some analysts predict a tech bull market for the next few years, but others like Goldman Sachs CEO David Solomon are more cautious. Solomon warned of a potential market correction due to overheated optimism surrounding AI and infrastructure spending. Apollo Global Management Inc.’s Chief Economist Torsten Sløk also highlighted concerns about the high valuations of the top S&P 500 companies compared to fundamentals. The surge in AI spending has sparked debate about the sustainability of the current tech market.

Read more at Yahoo Finance: OpenAI CEO Sam Altman Warns Investors Are ‘Overexcited’ Even As Microsoft, Meta, Amazon And Google Spend $320 Billion On AI