AI hype won't burst like dot-com bubble, says ex-Google CEO
Eric Schmidt, former Google CEO, says the current AI surge isn't just hype—it's the start of a whole new industrial era.
Speaking at the RAISE Summit in Paris, he dismissed comparisons to the dot-com bubble and said his experience tells him this growth is here to stay.
'I've never seen a situation...': Schmidt on AI's industrial impact
Schmidt points to massive data centers powered by NVIDIA chips as proof that AI is changing how industries work.
He shared, "I've never seen a situation where hardware capacity was not taken up by software."
While some worry about too much investment in AI infrastructure, Schmidt sees these ups and downs as normal when tech transforms an industry.
For context: the global AI market was $189 billion in 2023 and could reach $4.8 trillion by 2033.
Investor in rising AI companies
Schmidt led Google through its explosive early years and now invests in rising AI companies like Anthropic and Perplexity.
His track record during past tech booms shapes his optimistic view on where AI is headed next.
Schmidt's controversial views on privacy
Schmidt has faced heat for his takes on privacy—like when he said in 2009, "If you have something that you don't want anyone to know, maybe you shouldn't be doing it."
Critics say he's been too relaxed about data collection and big tech dominance.