Latest news with #RAISESummit
India Today
21-07-2025
- Business
- India Today
Former Google CEO Eric Schmidt says AI is not a bubble, but a whole new industrial structure
Eric Schmidt, former CEO and chairman of Google, knows a thing or two about bubbles. After all, he was leading Google when the company was navigating the chaotic aftermath of the dot-com bubble burst in the early 2000s. At that time the internet was seen as a revolutionary technology, which quickly saw billions of dollars of investment. However, everything fell apart with a few years as investors did not get the expected profits. Now, many analysts are predicting that the hype around AI may meet a similar fate. But Schmidt does not believe history is repeating at the RAISE Summit in Paris, Schmidt dismissed growing concerns that the AI boom is headed for a comparable crash. 'I think it's unlikely, based on my experience, that this is a bubble,' Schmidt said. 'It's much more likely that you're seeing a whole new industrial structure' (via Business Insider).Schmidt's comments come at a time when AI is the hot topic and investors are once again all in, eager to stake their money on this new revolutionary technology. Since the debut of ChatGPT in late 2022, major tech firms have funnelled billions into AI development, talent acquisition, and infrastructure. Companies like OpenAI, Google, and Meta are at the forefront, racing to secure top AI talent and build the infrastructure necessary to reach superintelligence first. According to reports, the global AI market, estimated at $189 billion in 2023, is projected to swell to a staggering $4.8 trillion by 2033. While there is plenty of curiosity and hope, many are questioning whether AI is being overhyped, and whether it might face the same fate as the dot-com era, potentially triggering a market crash. At that time, the internet was seen as a revolutionary technology, prompting investors to pour money into internet companies in anticipation of massive future profits. However, by 2000–2001, with few profits in sight, the bubble burst and it wiped out trillions in Global Management's chief economist, Torsten Slok, recently warned that the current AI surge may represent an even larger bubble than the dot-com era. 'The top 10 companies in the S&P 500 today are more overvalued than they were in the 1990s,' Slok wrote in a note published on contrast, Schmidt points to the hardware demands of AI as a sign of its long-term viability. 'You have these massive data centres, and Nvidia is quite happy to sell them all the chips,' he said in Paris. 'I've never seen a situation where hardware capacity was not taken up by software.'No overcapacity, limited by electricitySchmidt acknowledges that many are concerned about 'overbuilding' and the risk of 'overcapacity in two or three years.' However, he sees this more as a normal cycle of ups and downs, rather than evidence of an impending collapse. 'That's a classic bubble, right?' Schmidt quipped, referring to those who believe their own firms will survive while others fail. 'If you believe that those are going to be the defining aspects of humanity, then it's under-hyped and we need even more,' he Schmidt has also addressed the challenges of AI and what he believes could be the biggest obstacle to building superintelligence. In a recent episode of the Moonshots podcast with Peter Diamandis and Dave Blundin, Schmidt identified electricity — not chips or money — as the true limiting factor for AI's progress. 'AI's natural limit is electricity, not chips,' he said, warning that the US may need an additional 92 gigawatts of power to support future AI a LinkedIn post, he wrote: 'It is reasonable to predict that we are going to have specialised AI savants in every field within five years. Now imagine their capabilities and how they will change society and our day-to-day lives.'- Ends
Business Insider
20-07-2025
- Business
- Business Insider
Eric Schmidt explains why he doesn't think AI is a bubble — even if it might look like it
Eric Schmidt took over as Google's CEO in the midst of the dot-com bubble burst. He doesn't anticipate the same fate for AI. The former Google executive explained why he didn't think the AI industry was in a bubble while speaking at the RAISE Summit in Paris. AI has expanded rapidly in the years since ChatGPT took off and Big Tech invested heavily in the industry and ignited a new talent war. With an estimated market value of $189 billion in 2023, it's projected to grow into a $4.8 trillion industry by 2033. While some may see signs of an eventual crash, Schmidt — who has investments in multiple AI companies, including Anthropic — pointed to hardware and the chips market as a specific sign that the market has longevity. "You have these massive data centers, and Nvidia is quite happy to sell them all the chips," Schmidt said. "I've never seen a situation where hardware capacity was not taken up by software." Schmidt, speaking about his conversations with AI executives, said that he's heard talk that the AI industry is in a "period of overbuilding," and that they'll hit "overcapacity in two or three years." "They'll say, 'But I'll be fine and the other guys are going to lose all their money,'" Schmidt said. "That's a classic bubble, right?" Then there's the other side of the debate, the Bay Area techies who think that reinforcement learning chains will transform the world. "If you believe that those are going to be the defining aspects of humanity, then it's under-hyped and we need even more," he said. Schmidt didn't side with either side — overcapacity or under-expansion — but he did weigh in on whether it was an industry facing a bubble-level correction. "I think it's it's unlikely, based on my experience, that this is a bubble," Schmidt said. "It's much more likely that you're seeing an whole new industrial structure." Not everyone agrees. On Wall Street, talk of a potential bubble continues to simmer. On Wednesday, Apollo Global Management's chief economist Torsten Sløk said that the stock market faces an even bigger bubble than the dot-com boom. The primary culprit, in his view: AI. "The difference between the IT bubble in the 1990s and the AI bubble today is that the top 10 companies in the S&P 500 today are more overvalued than they were in the 1990s," Sløk wrote.
Business Wire
08-07-2025
- Business
- Business Wire
Cerebras Launches Cerebras Inference Cloud Availability in AWS Marketplace
PARIS--(BUSINESS WIRE)--Today at the RAISE Summit in Paris, France, Cerebras Systems announced that Cerebras Inference Cloud is now available in AWS Marketplace bringing Cerebras' ultra-fast AI inference to enterprise customers, and enabling the next era of high performance, interactive, and intelligent agentic AI applications. 'Now customers can easily procure Cerebras's ultra-fast inference through their AWS accounts and workflows, enabling them to tackle problems that were previously out of reach," said Chris Grusz, Managing Director, Technology Partnerships, AWS. Share Amazon Web Services (AWS) customers will now have access to Cerebras Inference Cloud directly within AWS Marketplace. This provides AWS customers with the ability to streamline the purchase and management of Cerebras Inference Cloud within their AWS Marketplace account. Customers can pair Cerebras inference with cutting-edge frameworks and developer tools, delivering agentic applications that are faster to build, easier to deploy, and dramatically more responsive. 'We're excited to bring the power of Cerebras inference to millions of builders and enterprises in AWS Marketplace,' said Alan Chhabra, EVP of Worldwide Partnerships, Cerebras. 'From financial services to LLM-powered developer tools, this expansion makes it possible to build the fastest, most efficient AI applications ever deployed.' 'With Cerebras on AWS Marketplace, the world's fastest AI computing system is now available with the push-button simplicity of the AWS cloud,' said Babak Pahlavan, Founder & CEO, NinjaTech AI. 'AWS is a long-time and preferred cloud partner for NinjaTech AI and having Cerebras available on AWS Marketplace makes it even more seamless for us and others to build amazingly fast AI Agents." "We are thrilled to welcome Cerebras to AWS Marketplace,' said Chris Grusz, Managing Director, Technology Partnerships, AWS. 'Now customers can easily procure Cerebras's ultra-fast inference through their AWS accounts and workflows, enabling them to tackle problems that were previously out of reach. We're excited to see how our customers leverage this technology to build the next generation of AI." About Cerebras Systems Cerebras Systems is a team of pioneering computer architects, computer scientists, deep learning researchers, and engineers of all types. We have come together to accelerate generative AI by building from the ground up a new class of AI supercomputer. Our flagship product, the CS-3 system, is powered by the world's largest and fastest commercially available AI processor, our Wafer-Scale Engine-3. CS-3s are quickly and easily clustered together to make the largest AI supercomputers in the world, and make placing models on the supercomputers dead simple by avoiding the complexity of distributed computing. Cerebras Inference delivers breakthrough inference speeds, empowering customers to create cutting-edge AI applications. Leading corporations, research institutions, and governments use Cerebras solutions for the development of pathbreaking proprietary models, and to train open-source models with millions of downloads. Cerebras solutions are available through the Cerebras Cloud and on-premises. For further information, visit or follow us on LinkedIn, X and/or Threads.
Business Insider
19-06-2025
- Business
- Business Insider
Coral Protocol Announces World's Largest AI Hackathon at RAISE Summit in Paris
Paris, France, June 19th, 2025, Chainwire Coral Protocol has announced the world's largest AI hackathon for artificial intelligence developers with $150,000 in prizes. Culminating at RAISE Summit in Paris on July 8-9, 'Raise Your Hack' will unite solo devs and teams creating innovative solutions that leverage AI. Hosted by with technical sponsors including Meta and Groq, Raise Your Hack will give AI builders an opportunity to showcase their skills and push boundaries while broadening their practical knowledge. The event commences on July 4, when participants will have a chance to collaborate online with a global community of like-minded innovators, and runs until July 9. The hackathon is set to finish at the iconic Le Carrousel du Louvre in Paris on July 8-9, when 600 selected participants will be able to meet in person and the winning submissions will be revealed. A prize pool worth up to $150,000 has been allocated to developers who create the most promising AI-based solutions. In addition to granting developers an opportunity to demonstrate their talent, Raise Your Hack will help participants transform their concepts into a working reality. Expert mentors will be on hand to guide developers through the hackathon from start to finish. With thousands of industry figures poised to be in attendance as part of RAISE Summit, the hackathon will serve as a launchpad for developers to present their ideas to an audience that includes investors, blockchain projects, and AI startups. A team of experienced judges will assess the final submissions, giving particular weight to technical execution, business application, and the use of specialized agents. Roman Georgio, Co-Founder & CEO of Coral Protocol said: 'We're delighted to serve as a technical sponsor of Raise Your Hack and are excited to see the AI solutions that teams devise, leveraging the tech stack available to them including Coral Protocol for agentic collaboration. RAISE Summit is the perfect event for uniting the best developer talent and presenting their innovations to an expectant audience and we can't wait to see what they come up with.' Raise Your Hack will bring together a global pool of talented developers to break new boundaries working at the intersection of web3 and AI. In the process, it will incentivize the creation of new applications that leverage advanced blockchain technology to solve real-world challenges. Developers can apply for Raise Your Hack now at Coral Protocol is an open and decentralized collaboration infrastructure that enables communication, coordination, trust and payments for The Internet of Agents: laying the foundation for safe AGI. It allows agent creators to publish agent advertisements that any other agent or any multi-agent application can immediately use on demand.
