The stock market’s early rally fizzled by the afternoon, with the S&P 500 swinging from a nearly 2% gain to a slight selloff by midday. Nvidia, which initially jumped after reporting strong earnings, reversed 1% into the red along with the rest of the megacap AI trade. The broader market mood wasn’t helped by mixed…
Relentless stock-market highs, astronomical valuations for OpenAI, and reports of hyperscalers taking on more debt have stoked fears that the AI boom is another tech bubble ready to pop. Even OpenAI CEO Sam Altman acknowledged this summer that investors were getting “overexcited about AI” and drew parallels with the dot-com bubble. But Capital Economics pointed…
First it was the release of GPT-5 that OpenAI “totally screwed up,” according to Sam Altman. Then Altman followed that up by saying the B-word at a dinner with reporters. “When bubbles happen, smart people get overexcited about a kernel of truth,” The Verge reported on comments by the OpenAI CEO. Then it was the…