Microsoft CEO warns: AI in the US may have already formed a huge bubble, but Microsoft is now tied to AI, and he has no choice but to invest heavily in world-class AI data centers, the largest in the world. If the investment imagination space is exhausted, it will become a giant negative asset...
This comment was made by Gary Marcus, a professor at New York University, a well-known Silicon Valley AI entrepreneur, and known as the "rational alarm bell of artificial intelligence," during an interview with Satya Nadella, Microsoft's Indian-origin CEO. Gary Marcus said that the US economy, especially the US stock market, has bet too much on the seven tech giants of the US stock market. According to the market value in September 2025, these seven giants together are worth 20 trillion US dollars, which is higher than China's GDP. One single NVIDIA is worth 4.5 trillion US dollars, almost equivalent to the GDP of Germany, the third-largest in the world. Moreover, whoever can tell more AI stories will continue to see their market value rise. This bubble is very obvious.
He interviewed executives from these giants, and the most obvious concern was Microsoft's CEO Nadella. In the interview, he repeatedly stated that he does not really believe in LLMs. First, LLMs have not generated significant actual customer value. Second, they have not clearly driven GDP. However, everyone is caught up, and they have to compete to invest in bigger and bigger AI data centers. But if the AI story cannot be continued, it could become a giant negative asset!
Of course, Marcus did not say everything definitively, but he is worried about betting too heavily on the seven giants, and that LLMs may not ultimately achieve general artificial intelligence (AGI), at least there is no sign of hope in the short term!
Original article: www.toutiao.com/article/1845064192461827/
Statement: The article represents the views of the author himself.