Google CEO Sundar Pichai says AI spending still makes sense despite bubble fears

As the world’s top technology executives converged on India’s AI Impact Summit this week, Google CEO Sundar Pichai pushed back on growing concerns around whether the tech industry’s massive AI spending spree can ever pay off.“These are such leverage investments and drive so much growth and value,” Pichai said in a briefing at the summit on Wednesday, adding that the current AI buildout is moving “10 times faster” than prior industrial revolutions. “I believe this is a transformational moment like that,” he said.Pichai pointed to surging Google Cloud demand as evidence that returns are already materializing. “The investment makes sense given the economy we are seeing and the opportunities we see,” he said. The comments come weeks after Alphabet revealed it plans to spend between $175 billion and $185 billion in capital expenditure in........

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