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Is the AI Bubble Starting to Burst?

The shift in AI sentiment is real and accelerating.

This week, former Google CEO Eric Schmidt co-authored a New York Times op-ed warning that Silicon Valley’s “frenzy” over artificial general intelligence (AGI) has become counterproductive. AGI is the idea of machines that can think and reason like humans or beyond. It remains science fiction, yet dominates the narrative.

• Schmidt urged tech leaders to focus on practical applications that deliver value now. He warned that the US risks falling behind China, which is less distracted by AGI hype and more pragmatic in deploying existing AI.

• Mustafa Suleyman, co-founder of DeepMind and now Microsoft’s AI chief, struck a similar chord: the industry should “build AI for people; not to be a person.” He cautioned that chasing conscious AI is a distraction and that expectations must be reset toward utility.

• Even Sam Altman, OpenAI’s CEO and usually one of AI’s most optimistic voices, has cooled. While still bullish long-term, he acknowledged an “AI bubble,” saying smart people are “overexcited about a kernel of truth.” He predicted that someone will “lose a phenomenal amount of money,” comparing today’s hype to the dot-com bubble.

Why this matters: The shift reflects massive costs, unproven business models, skepticism about AGI timelines, and regulatory challenges. Valuations remain high, but the focus is turning to resilience and real-world value, a much healthier trajectory for the AI ecosystem.

‘Life-Changing’: Blind Man’s Journey With AI Glasses

UK’s Andy Evans was forced to leave his supermarket night shift job last year after being registered as blind.

For the 57-year-old, everyday tasks such as reading menus, recognizing landmarks, or navigating unfamiliar places suddenly became major challenges, and he doubted whether he would ever be able to work again.

The BBC reports that Evans then turned to Ray-Ban’s AI-powered glasses for help; built with a discreet camera and tiny speakers, the glasses connect to an AI model that provides real-time descriptions of his surroundings. By asking questions, Evans now has them identify obstacles, read text, or describe a scene.

Evans describes the impact as “life-changing”, letting him do things like order food in a restaurant or check what’s ahead on the street. The glasses have also given him enough independence and confidence to return to work, now helping others adapt to sight loss at the charity Sight Support West of England. 😊

Although the tech is still in its early stages, it’s already making a measurable difference. Robin Spinks, head of inclusive design at the Royal National Institute of Blind People (who is registered blind himself) said he uses the glasses daily and described the ability to hear instant descriptions of places and objects as “transformational.”

Fountain of Youth Found?

In the US, AI longevity startup Fountain Life has raised $18M to grow its network of longevity clinics.

Founded by renowned motivational speaker and author Tony Robbins and entrepreneur Peter Diamandis, the company focuses on early disease detection and health optimization, using advanced AI scans and blood tests to monitor over 100 biomarkers. Memberships start at $10,500 annually, which includes extensive testing and access to their AI platform. 

The more comprehensive "APEX" membership, which includes ongoing medical support from a dedicated team and concierge services, is priced at around $21,000 a year. 

Meet Joelle Pineau, Chief AI Officer at Cohere

Celebrating this week’s Woman in Tech 🥳: Meet Joelle Pineau, who has just been appointed as Chief AI Officer at Cohere and is a Professor at McGill University's School of Computer Science.

A Canadian native and one of AI’s most respected voices, Pineau previously served as VP of AI Research at Meta, where she led the FAIR lab and helped guide development of the popular Llama models.

Her journey to the top has been anything but linear.

• She once played viola in the Ottawa Symphony Orchestra.

• With a PhD in Robotics from Carnegie Mellon University, her first tech project involved training a voice recognition system for helicopter pilots. With no female pilots available for recordings, she stepped into the cockpit herself, simulating stressful conditions to collect realistic data.

• Her innovations span personalized oncology treatment and the SmartWheeler intelligent wheelchair, reflecting her passion for technology that drives real-world impact.

Her honors include the 2019 Governor General’s Innovation Award and election to the Royal Society of Canada.

With Cohere fresh off a $500M raise at a $6.8B valuation, her appointment marks an exciting new chapter for both company and industry. 😎

AI Around The World:

In Singapore, Prime Minister Wong says Singaporeans will stay at the center of the country’s plans as AI reshapes the economy. A new program run by local community councils will help people find jobs while workers will get support for retraining and upskilling.

In China, startup DeepSeek has launched an enhanced V3.1 model for China-made AI chips, aiming to undercut competitors like OpenAI on price. The release sent local semiconductor stocks surging - Cambricon hit record highs.

In Sweden, leading companies (AstraZeneca, Ericsson, Saab, etc.) have launched Sferical AI, a joint venture to build advanced AI infrastructure and strengthen the competitiveness of Swedish industry.