Nikhil Kamath and Brian Armstrong criticize high AI firm valuations
Business
Nikhil Kamath (Zerodha) and Brian Armstrong (Coinbase) are calling out the huge price tags on big AI firms like OpenAI and Anthropic.
During an interview, Kamath compared the current AI buzz to the dot-com bubble, saying expensive models are losing their shine as open-source and local tech become more popular.
Kamath predicts 5-year AI short payoff
Kamath believes betting against AI stocks could pay off in five years, though he points out they've already dropped from their highs.
He predicts countries will start building their own AIs by tweaking premium models for local needs.
Armstrong echoed these thoughts, warning that the AI market might be headed for a big correction, just like other speculative cycles we've seen before.