According to Business Insider, Intel’s former CEO Pat Gelsinger, in an interview, reflected on his tenure at the company and stated that the AI industry is currently in a bubble.
Gelsinger now serves as a general partner at the venture capital firm Playground Global. During an interview with CNBC, he discussed his nearly four-year tenure as Intel’s CEO. He said, “Intel has made a series of wrong decisions over the past 15 years,” and “we were too slow to respond in the AI field.”
He also mentioned that the current AI hype is a bubble. “Are we in an AI bubble? Of course, without a doubt,” he told CNBC’s program Squawk Box. “I mean, we are overhyping AI, accelerating investments, and putting huge leverage on the entire system.”
However, he believes the bubble “won’t burst in the next few years.” Gelsinger noted that although the industry has shown a “trend toward AI transformation,” companies “have not yet truly started to gain substantial returns from it.”
Other tech leaders have also indicated that there are signs of a bubble in the AI sector, including Sam Altman, CEO of OpenAI. Cai Congxin, a co-founder of Alibaba, said he “has started to see signs of a bubble.” Meanwhile, Jensen Huang, CEO of NVIDIA, was reluctant to compare the 2000 internet bubble to the current AI market.