THE boss of Google has warned “no company would be immune” if the artificial intelligence stock market bubble was to burst.
Sundar Pichai admitted there was an “irrationality” in the AI-fuelled stock price rise of hundreds of companies.
It comes amid fears of a stock valuation bubble similar to the 2000 dot-com crash.
Mr Pichai said: “I think no company is going to be immune, including us. We can look back at the internet right now.
“There was clearly a lot of excess investment, but none of us would question whether the internet was profound.
“I expect AI to be the same.
“So I think it’s both rational and there are elements of irrationality through a moment like this.”
Jamie Dimon, boss of US bank JP Morgan, has already said that some of the trillions poured into AI would “probably be lost”.
Bubble fears have already affected Bitcoin.
It hit a high of $126,000 last month, but briefly fell below $90,000 yesterday for the first time in seven months.
In the past five days Amazon’s share price has dived ten per cent, with Google’s falling 3.5 per cent.
The FTSE closed yesterday at a near one-month low.
