Google CEO Sundar Pichai has sounded a note of caution over the booming artificial intelligence sector, warning that no company, not even Google, would be spared if the current wave of exuberance were to collapse. Speaking to the BBC in an interview, Pichai described today’s AI frenzy as an “extraordinary moment”, but one marked by “elements of irrationality”. His remarks echo the cautionary tones of economists who warned of “irrational exuberance” during the late 1990s dotcom bubble.

Pichai’s words come as excitement around AI continues to drive record-breaking valuations and investment across the tech industry, prompting debate about how long the momentum can realistically last. Alphabet’s shares alone have jumped nearly 46 per cent this year, powered by investor confidence in Google’s

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