The artificial intelligence (AI) boom has been ruling the technology sector in recent years and is rapidly spilling over to other industries. Investors are racing to put their money into AI startups, while companies with AI ties have seen their stocks skyrocket.
AI advocates believe that it is the technology of the future, but there are still a lot of people that believe the AI craze is actually just a bubble that will burst at one point.
Lisa Su, CEO of chipmaker Advanced Micro Devices (ADM), was recently asked about AI skeptics in an interview with TIME magazine and didn’t hold back.
“Completely wrong,” said Su when asked to describe the opinion of people who believe we live in an AI bubble or that AI is overhyped.
According to Su, the world is witnessing a “major arc in technology” every decade or so, mentioning the creation of personal computers and the internet. She believes AI is simply one of those arcs and that it could end up being bigger than all of the previous ones.
“I think AI is bigger than all of them in terms of how it can really impact our daily lives, our productivity, our business, our research—all of those things. And we’re at the very beginning of the cycle,” Sue shared. “So what I would say is, for those who are talking about a “bubble,” I think they’re being too narrow in their thinking of, what is the return on investment today or over the next six months.”
AMD has been one of the companies that significantly benefited from the AI boom thanks to its focus on the production of AI chips and software. The chipmaker’s stock is up 22.96% year-to-date and rose 63.74% in the past 12 months.