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Billionaire investors Ray Dalio warned that investors’ vigorousness of artificial intelligence has promoted the “bubble” of American stocks, similar to the accumulation of Internet chest statues during thousands of years.
Dalio told the Financial Times that “the level that must be reached at the same time is at the same time, and the bubbles may be priced.”
Dalio, the founder of hedge fund Bridgewater Associates, is also one of the highest characters in Wall Street because he is worried that the prosperity in American AI stocks is too much. Investors are also worried about the increase in borrowing costs. In December, the Federal Reserve officials cut their concerns about the expectations of reducing tax rates this year.
Dalio said: “We are now in a period of time that we are very similar to our position between 1998 or 1999.” “In other words, one major new technology will definitely change the world and achieve success. But some people will succeed. Make this investment successfully. “
In the late 1990s, the rise of technical valuations was partly used by low interest rates and the Internet, and then the brutal corrections of the adopted monetary policy of Alan Greenspan, Alan Greenspan, were adopted.
The 100 Index of the Nasdaq high -tech turned over in 1999. By October 2002, the index fell by about 80 %. Since the beginning of 2023, the index has been doubled because stock manufacturers such as AI focusing on NVIDIA, such as AI, are higher.
Wall Street stocks published a paper after Monday’s Chinese artificial intelligence company Deepseek and a little -known hedge fund related to DeepSeek, claiming that its latest AI model can be comparable to the performance of the OpenAI and Meta platform, but the cost is compared to Low, and have less delicate hardware. Essence NVIDIA’s market value on Monday has reduced nearly $ 60 billion.
DeepSeek obviously successfully questioned the potential returns of hundreds of billions of dollars invested by Silicon Valley in AI data centers, and whether China tried to find a competitive method, although it limits its ability to import high -end chips from the United States.
OPENAI, supported by Microsoft, announced a plan last week that will invest as high as $ 50 billion in AI infrastructure. The company’s ChatGPT is the tallest free application on the Apple App Store until the AI assistant of Deepseek was displaced on Monday.
Dalio retired in 2021 and served as chairman of Bridgewater, but was still on the board of directors. He has long advocated economic participation with China. He wrote last year: “The key question is not how much I should invest in China.” However, he warned that the bets in AI were extremely high.
He told the British Bank (FT): “The scientific and technological war between China and the United States is much more important than profitability, not only for economic advantages, but also for military advantages.”
Dalio added: “Those who need to pay attention to profitability with sharp pencils will not win the competition.”
OpenAI founder Sam Altman wrote on X this month that it has enhanced the shocking profit of artificial intelligence profits. The company loses losses in the ChatGPT Pro plan of $ 200 per month due to unexpected usage.
With the strong investment in the US Technology Group, President Donald Trump has promised to support the US AI in the second semester.
China has provided fiscal assistance for its AI industry, including the establishment of funds for the semiconductor industry that supports its sides. At the same time, the United States under the leadership of the former US President Joe Biden expanded billions of dollars of subsidies to build chips on US land.
Dalio acknowledged that, given the importance of winning global competitions, the support of the state’s support for racing AI developers is inevitable, even at the cost of profits.
“In our system, in general, we are adopting more industrialized policies, including the government’s regulations and activities affected by the government, because this is so important.”
“Capitalism-only profit-only-cannot win this battle.”
