The U.S. stock market experienced pressure on Tuesday as concerns grew over the impact of advancing AI programming on traditional software and SaaS companies. According to Ming Pao, Wong Bik, the Dean of the Hong Kong Austrian School of Economics, expressed skepticism about the current focus on AI and its profitability model in the U.S. stock market. He noted that there has been ongoing doubt about OpenAI's execution and monetization capabilities. The market, which previously anticipated a perpetual motion trading model with continuous capital flow among related concept stocks, is now beginning to question whether this is merely an attractive bubble.
Recently, NVIDIA's (US: NVDA) proposed multi-billion dollar investment in OpenAI has faced uncertainties, raising doubts about the sustainability of the AI investment frenzy.