“To say that it is a bubble is a blasphemy against AI, this is just the beginning”
Bubble yes, bubble no. Nobody agrees. On one side are those who see a clear parallelism with the dotcom bubble and They believe that the explosion is imminent. On the other hand, the most optimistic They see AI as a source of inexhaustible wealth (one that we haven’t seen yetthey say that because we don’t know how to measure it). Guess which side the CEO of SoftBank is on, who only last year put in no less than $40 billion in OpenAI. What bubble? They count in Reuters that, during the last annual results conference, the CEO of the company Masayoshi Son He was blunt with those who see an imminent apocalypse in the AI boom: “I think that saying that it is a bubble is a blasphemy against AI (…) This is nothing more than the beginning. The potential of AI is yet to be discovered.” Are did not rule out a fall completelybut he predicted “many golden days” even if that happened. His position fits with that of other business leaders like Jensen Huangwho believes that we are facing the largest infrastructure construction in history, or Satya Nadellawhich says that it would only be a bubble if no one uses AI, which is not happening. Interests. To understand this very forceful position, it is enough to know that SoftBank is the largest investor in OpenAI. In total, the Japanese conglomerate has committed to investing more than $64 billion, and more importantly: they are not investing in other AI companies. At the moment the bet is going relatively well for them and in the first quarter of the year they recorded profits of 25 billion dollars, which skyrocketed their share price, which has already risen 216% in 2025. However, it is no less true that the future of the company is strongly linked to the success or failure of OpenAI and the AI boom in general. If the bubble punctures, they puncture with it. blind faith. They counted on Bloomberg Recently, many SoftBank executives were concerned about the strange fascination that their CEO showed for Sam Altman. At a time when Rivals like Anthropic are already worth morethe internal leadership is concerned about the risk of “putting all their eggs in one basket” and then Altman not keeping his promises. It is something that It already happened to them with the bankruptcy of WeWork and that repeats the same ingredients: charismatic leader and aggressive investment. Several of these executives have asked Son what would happen if OpenAI failed, but the CEO always dismisses the doubts abruptly, so they have chosen to remain silent. The IPO. OpenAI is planning its IPOprobably before the end of the year, so this gain is still on paper. If the operation is successful, SoftBank can make a significant amount of profit, but it is also exposed to heavy losses if it goes wrong. Recently the analyst Ed Zitron leaked data on OpenAI’s financial status and the losses are so high that they make you dizzy. Despite everything, investors continue to believe in OpenAI and the company It’s already worth a whopping $852 billion. Contrast. The perception of leaders like Masayoshi Son contrasts with the growing concern of the American population. It is estimated that the total investment in AI is already has exceeded one billion dollars and citizens are not clear that it is the gold mine that technology companies promise. According to a recent Haystack News survey54.9% were “very worried” that a bubble is forming in the technology industry because of AI, while only 21.2% said they were not worried at all. This adds to the growing rejection of the construction of data centersmainly because the pollution it generates in nearby towns. Image | Xataka with Magnific In Xataka | The CEO of NVIDIA has returned from the future with a warning: there are seven or eight years of astronomical investment in AI left