Almost $400 billion is being poured into artificial intelligence by technology giants this year, with hundreds of billions more on the way next year.
But the fate of the AI trade increasingly hinges on just one company, according to a Wall Street veteran, who sees possible pain ahead if cracks start to emerge.
That company is OpenAI, which was at the center of new multibillion-dollar agreements this past week, further solidifying its importance in the current AI boom that it arguably kickstarted with the release of ChatGPT almost three years ago. But while the deals signal confidence in the AI trade, some on Wall Street are worried that a debt bubble could form as technology companies feel pressured to spend or risk falling behind.
Read more | MARKET WATCH