Ray Dalio warns the AI bubble is nearing its bursting point
Summary
Billionaire Ray Dalio warned that artificial intelligence is a 'classic bubble' that is nearing a bursting point because of rising interest rates and the need to turn wealth into cash. Speaking at the Forbes Global CEO Conference in Singapore on Wednesday, he said the AI bubble is reaching the point where it could burst. Bloomberg reported the warning as a rally in stocks came to a halt and global bonds fell, with mounting attacks on tankers in the Middle East pushing oil prices higher.
Latest: Billionaire Ray Dalio warned at the Forbes Global CEO Conference in Singapore that artificial intelligence is a 'classic bubble' nearing a bursting point, because of rising interest rates and the need to turn wealth into cash.
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How it unfolded
Wednesday 7 October
Billionaire Ray Dalio warned at the Forbes Global CEO Conference in Singapore that artificial intelligence is a 'classic bubble' nearing a bursting point, because of rising interest rates and the need to turn wealth into cash.
- 10:30ForbesBillionaire Ray Dalio Warns AI Bubble Could Soon Burst
- 07:14BloombergDalio Warns of AI Bubble, Hormuz Attacks Lift Oil
- 00:05BloombergRay Dalio Warns AI Bubble Is Approaching Burst Point