Ken Griffin warns of AI bubble but sees opportunities for entrepreneurs
Griffin said businesses have had uneven success getting value from AI models, even as developers prepare for further investment.
Ken Griffin said investors were almost certainly in an artificial intelligence bubble, while arguing that the technology could create new businesses and erode established companies’ competitive advantages. He spoke at the Future of Global Markets Conference in New York.
Griffin, whose businesses include Citadel and Citadel Securities, said American companies had achieved inconsistent results in extracting value from AI models. He also pointed to threats to white-collar employment as the technology develops.
The scale of potential investment is illustrated by Anthropic, which is expected to submit a public filing for a stock market debut. The Wall Street Journal reported that the company could spend US$750 billion on additional computing capacity over the coming years.
Griffin said Anthropic would have to convince investors that businesses across industries need its technology. Its potential offering would fund chips, data centers and talent for developing new models.
Despite his warning, Griffin argued that speculative bubbles can accompany major technological shifts. He cited the dot-com period, saying some companies survived the collapse of speculative investment and became enduring market leaders.
