The coming AI crash

Far too much money is being spent on long-odds bets that some new artificial intelligence tech will appear that justifies the current ridiculously high level of investment.

The biggest players in the system supporting AI are spending vast amounts of borrowed money on a technology they don’t even fully understand, writes Gwynne Dyer.Image courtesy of Gerd Altmann/Pixabay

Opinion

BY GWYNNE DYER

October 15, 2025

LONDON, U.K.—“The thing that comforts me,” said Jeff Boudier at Hugging Face, the leading open platform for AI builders, “is that the internet was built on the ashes of the over-investment into the telecom infrastructure of yesterday” during the dot-com boom of the...

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