Big Tech Goes All-In on AI: A Familiar Frenzy?
Big Tech’s massive spending spree on artificial intelligence is making headlines—and raising eyebrows. According to Jeff Currie from Carlyle Group Inc., the current AI investment frenzy strongly echoes the wild, early days of the US shale oil boom. Back then, companies poured staggering sums into expansion, only to watch a crash wipe out $2.6 trillion in equity. Will AI’s golden age of spending lead to similar consequences? Only time, and maybe smarter algorithms, will tell.
Currie’s comparison is more than just a history lesson. The eye-popping numbers being invested in AI research and infrastructure are fueling both excitement and anxiety. Everyone wants a piece of the AI pie before it cools off. But if history repeats itself, some tech giants might end up with more regret than reward. At least in the oil days, you could fill your tank—let’s hope AI doesn’t just fill our feeds with more doomscrolling.