Lately, headlines have claimed that tech leaders are warning of an AI bubble. Before forming opinions or reshaping investment strategies, it’s worth verifying what was actually said.
The circulating claim: Meta CEO Mark Zuckerberg and OpenAI CEO Sam Altman allegedly warned that the AI industry may be in a bubble, driven by investor enthusiasm similar to the dot-com era, though both still see long-term growth potential.
The verified facts: In August 2025, Altman said investors are “overexcited about AI,” comparing the moment to the dot-com boom, where “smart people get overexcited about a kernel of truth.” Yet, he maintained that AI is “the most important thing to happen in a very long time.” Notably, he made these remarks while OpenAI was raising US$40 billion at a US$300 billion valuation.
In September 2025, Zuckerberg acknowledged a market correction was “definitely a possibility” but said the greater risk is under-investing and missing out on “superintelligence.” Meta plans to invest between US$64 billion and US$72 billion in AI infrastructure this year.
Context matters: An MIT study found that 95 per cent of AI pilot programs fail to show ROI, despite more than US$40 billion in global investment. Worldwide corporate AI spending reached US$252.3 billion in 2024 — a 13-fold increase since 2014. Yet unlike many dot-com-era firms, today’s major AI players (Microsoft Azure, OpenAI, and others) are generating real revenue. Even U.S. Federal Reserve Chair Jerome Powell noted “unusually large amounts of economic activity” tied to AI buildouts.
Bottom line: The headlines are mostly accurate, but the nuance matters. Both leaders recognize the possibility of a bubble while deliberately investing through it. Their stance isn’t “stop spending” — it’s “be strategic and early.” They’re signalling that missing the next wave of innovation could be costlier than over-investing today.
Takeaway for professionals: Soundbites oversimplify. Before reacting to any bold claim about markets or technology, take five minutes to verify sources, timing, and context. In a sector moving as fast as AI, discernment is your greatest competitive advantage.
