AI Set to Eclipse Internet, Mobile and Cloud, Says Altimeter CEO

NNicholas September 28, 2023 10:09 PM

Brad Gerstner, CEO of Altimeter, predicts the influence of AI (Artificial Intelligence) to surpass the internet, mobile, and cloud technology, likening its rise to a super-cycle akin to the dotcom boom of the late '90s. Despite uncertainties, he remains hopeful about the prospects of AI in the coming years.

AI's future impact surpasses the internet

Brad Gerstner, the CEO of Altimeter, is staking a bold claim on the future of AI. According to him, this advanced technology is poised to surpass the impact of the internet, mobile, and cloud software. He asserts this with a confidence that is both enthusiastic and grounded, looking beyond the immediate horizon to the vast potential of AI in reshaping technology's landscape.

Wall Street frenzy over AI

The growing influence of AI is not just a prediction, but is already making waves in the financial world. Wall Street has been swept up in a buying frenzy, driven by the booming AI industry. This has resulted in major companies like Nvidia, a significant player in the AI field, reaching a market cap of over $1 trillion. This is a clear demonstration of AI’s potential financial impact.

Gerstner likens the rise of AI to a 'super-cycle', akin to the dotcom boom of the late '90s. While this comparison may bring fears of a similar bust, Gerstner emphasizes the importance of understanding the nature of such cycles. Initial overvaluation and price inflation may create a bubble, but the long-term impact of these technologies is often underestimated. As with the internet in its early days, AI's ultimate influence could far outstrip initial expectations.

Optimism despite uncertainty in AI

Despite the inevitable uncertainties surrounding a technology as disruptive as AI, Gerstner remains firmly optimistic. He believes that the coming years will bear witness to one of the biggest tech booms in history, led by AI. This optimism extends to his faith in the market, with Gerstner citing a 'chock full' IPO pipeline for the upcoming quarters.

Gerstner's company, Altimeter, is putting its money where its mouth is, with sizeable investments in Meta, Microsoft, and Nvidia. These three tech giants are at the forefront of AI development. By investing in these companies, Altimeter is not only expressing its confidence in AI's future but also positioning itself to benefit from the anticipated boom.

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