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What changedUS Treasury Secretary Scott Bessent has dismissed the risk of systemic economic damage from the AI boom, Semafor reports, citing the Financial Times. His comments add a prominent counterpoint to the market concerns already in focus.
Semafor also says Meta shares plunged as the company moved into negative free cash flow, while Alibaba fell 6% as investors questioned returns on AI spending. Those are signs of investor anxiety, not proof that the AI boom is either a bubble or a safe bet.
Blackstone President Jon Gray also rejected comparisons with the dot-com bubble, saying demand was “almost parabolic” at an AI consulting firm backed by Blackstone and created with Anthropic, according to Semafor. How much weight should investors give assurances about AI demand when the companies building it are still under pressure to show returns?
Sources and evidence- US Treasury Secretary Bessent dismisses AI bubble fears | Semafor: Semafor reports that US Treasury Secretary Scott Bessent dismissed the prospect of systemic economic risks from the AI boom, while investors continued to question returns on AI spending.
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