Last night, on ABC’s 7.30 news report with Michael Rowland, I discussed whether surging investment in artificial intelligence (AI) is pushing large technology companies to unsustainable valuations. I noted that investors often become highly enthusiastic when new technologies emerge that are believed to reshape the world, but history shows this can inflate expectations. In the case of AI, the scale of spending by tech hyperscalers is immense, and to justify it they would need extraordinary levels of revenue.

Watch the full segment here: ABC News – Are AI investors causing tech companies to be overvalued?