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Alibaba's Joe Tsai: 'AI Bubble' Merely Financial Phenomenon
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AI technology itself holds real value, while the market concerns about a "bubble" are essentially a financial phenomenon, Joseph Tsai, co-founder and chairman of BABA-W (09988.HK)(BABA.US), stated during a lecture at the University of Hong Kong, as quoted by Chinese media. He added that AI has more substantial underlying support compared to crypto assets. The success of AI should be hinged on the scale of practical applications rather than mere model competition, and open-source systems are pivotal for promoting the widespread adoption of technology, he noted. Using the internet bubble in 2000 as an example, he emphasized that financial market turbulence during technological transformation cycles do not affect long-term value. Speaking of the prospects for AI development in Mainland China, Tsai believed that the Mainland has notable advantages in areas such as energy infrastructure, data center cost efficiency, and STEM talent reserves, which will serve as key foundations for technological innovation. AASTOCKS Financial News Website: www.aastocks.com |
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