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Stock impact report

Google DeepMind CEO Demis Hassabis says some AI startups are wildly overpriced — and a correction is coming [Business Insider]

Alphabet Inc. - Class C Capital Stock (GOOG) 
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Jack Taylor/Getty Images for SXSW London This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in Google DeepMind CEO Demis Hassabis says some early AI startups are raising big money. But these startups "haven't even got going yet," he said, adding that an over-correction is likely. His comments come amid growing scrutiny of soaring AI startup valuations. Demis Hassabis has a blunt message for parts of the AI startup world: Some of this looks unsustainable. The DeepMind cofounder and CEO said in an episode of "Google DeepMind: The Podcast" published Tuesday that there are likely "bubbles" forming in today's AI funding frenzy, particularly among early-stage startups raising money at huge valuations. Some startups "basically haven't even got going yet," he said, yet are raising at "tens of billions of dollars valuations just out of the gate." "It's sort of interesting to see how can that be s Show less Read more
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