Sundar Pichai warns of AI bubble risks as global markets slide and investors grow wary

Alphabet chief executive Sundar Pichai has warned that no tech company will be unscathed if a global artificial intelligence boom were to collapse, as soaring valuations and aggressive capital deployment revive concerns of a widening market bubble.

In an interview with the BBC, Pichai described the current phase of AI investment as an “extraordinary moment” but acknowledged “elements of irrationality” reminiscent of the dotcom-era “irrational exuberance”. While expressing confidence in Google’s ability to withstand a downturn, he admitted: “I think no company is going to be immune, including us.”