AI Boom Mirrors 2008 Bubble as OpenAI Revenue Runs 28% Below Prior View
Updated
Updated · The New York Times · Oct 25
AI Boom Mirrors 2008 Bubble as OpenAI Revenue Runs 28% Below Prior View
1 articles · Updated · The New York Times · Oct 25
Summary
OpenAI’s projected annual revenue was about $50 billion at the end of September, a figure the Financial Times said was 28% below earlier expectations, adding to signs AI may not generate enough cash to cover its swelling debts.
The opinion piece argues the boom increasingly resembles the pre-2008 housing bubble: companies are allegedly keeping debt off balance sheets, investors are buying complex products backed by uncertain assets, and cross-dealing is inflating apparent demand.
Anthropic’s revenue growth has also reportedly softened, while the Nasdaq has fallen more than 5% over the past two weeks as markets grow more uneasy about AI-heavy valuations.
With more U.S. fund exposure tied to AI-heavy stocks than to housing, the article warns a bust could erase even more wealth than 2008 and leave Washington under pressure to prepare a rescue framework.