Artificial intelligence (AI) is the new king of the tech world, according to Brad Gerstner, the CEO of Altimeter Capital. In a recent speech at the CNBC Delivering Alpha Investor Summit, Gerstner claimed that AI will be even bigger than the internet, mobile technology, and cloud software. He compared the rise of AI to the dotcom boom of the late 1990s, stating that it will be a “super-cycle” with conflicting sentiments and uncertainties. While there may be some overpricing in the short term, Gerstner believes that AI will have a significant impact over the next decade, just as the internet did.
Gerstner is optimistic about the future of AI, especially as the Federal Reserve nears the end of its tightening cycle. He predicts a major tech boom in the coming years, with the IPO pipeline looking “chock full” for the next three quarters. Altimeter Capital currently has significant investments in Meta, Microsoft, and Nvidia, all of which are leaders in the AI space.
This year, AI has been making waves in the tech industry, pushing Nvidia’s market cap over $1 trillion and creating a buying frenzy on Wall Street. One of the most notable advancements is ChatGPT, a chatbot capable of producing human-like responses. It became the fastest-growing software in history and took the world by storm.
While Gerstner’s bullish take on AI may excite investors, it’s important to approach with caution. The future of AI is still uncertain, and as with any emerging technology, there are risks involved. However, Gerstner’s belief in the power of AI and its potential for massive growth is certainly intriguing.
So, what do you think? Is AI really going to be bigger than the internet? Are we on the brink of a major tech boom? Share your thoughts and comment below!
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