We needn’t brace for the bubble to pop or fear an uptick in popular disillusionment with the technology. AI has only recently exploded into public view. When OpenAI launched ChatGPT in November 2022, few people outside industry had heard of large language models, let alone used one. “In 20 years following the internet space,” wrote a UBS analyst, “we cannot recall a faster ramp in a consumer internet app.” Venture capitalists poured more than $40 billion into AI enterprises. Chipmaker Nvidia saw a huge spike in its share price, briefly taking it to a trillion-dollar market capitalization, and Meta announced its plan to spend $33 billion on its “build-out of AI capacity.”

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Persons: Sam Altman, Christina Montgomery, Gary Marcus, Mark Kelly, OpenAI, ” Organizations: IBM, Getty, UBS, ” Venture, Nvidia, Meta