Silicon Valley Leaders Warn of AI Boom Echoing 1990s Internet Bubble Amid Industry Surge

Industry leaders including John Chambers, Jeff Bezos, and Avak Kahvejian reflect on the current surge in artificial intelligence investments and innovation, drawing parallels to past technology booms like the 1990s internet bubble. Chambers, a veteran of the internet boom and bust cycle, notes that AI is advancing much faster than the internet did, promising transformative outcomes but cautioning about potential market volatility. Bezos describes the current AI market as an "industrial bubble," highlighting the excitement and indiscriminate funding of ideas, while affirming AI's reality and its profound societal impact. Kahvejian underscores AI's already tangible benefits in biopharma, particularly in drug discovery and development, arguing that skepticism about AI's impact is outdated. Venture capitalists like Jon Callaghan of True Ventures and Darren Bechtel of Brick & Mortar Ventures emphasize AI's broad transformative potential across sectors, including enterprise technology, biology, robotics, and construction, with startups increasingly leveraging AI to innovate and address labor and efficiency challenges. Overall, while recognizing the hype and investment risks, these experts agree that AI's technological advancements are real and poised to reshape multiple industries.