In an interview with CNBC, John Elkann addressed concerns regarding a potential artificial intelligence bubble, emphasizing that while he does not believe in the existence of a bubble, there are risks associated with the revenue-generating mechanisms of AI technologies.
He pointed out that the high energy and compute requirements for AI could lead to a supply and demand mismatch, which might affect market stability. Elkann also noted the competitive landscape between U.S. and Chinese tech firms, suggesting that European companies possess significant technical capabilities that could attract investment.
He cited Bending Spoons, an Italian conglomerate, as an example of a company with global ambitions that exemplifies the potential for growth in the European tech sector. Elkann's comments suggest that as more innovative companies emerge, they could draw increased investor interest, shaping the future of the market