Amazon founder Jeff Bezos has shared his two cents on the massive boom in investment surrounding artificial intelligence. Bezos said that the current boom is an “industrial bubble,” but unlike financial bubbles observed in the past, this one could yield massive benefits for society.

Bezos, who is an investor in Aravind’s Srinivas AI startup Perplexity , acknowledged at the Italian Tech Week in Turin that the AI sector’s current valuations appear detached from basic business fundamentals. He said that the hype has led to an indiscriminate flow of capital, which is a classic sign of a bubble. “This is a kind of industrial bubble, as opposed to financial bubbles,” Bezos stated.

AI boom has created an industrial bubble

He explained that during these periods of excitement, investors have a

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