What happened
Report Provider: Semafor
Author: Tom Chivers
Executive Summary
The artificial intelligence search engine Perplexity raised funds that valued it at $18 billion, intensifying fears of an AI bubble. The latest valuation is a huge increase on Jan. 2024, when the firm was estimated to be worth $500 million. Perplexity’s latest investment round came as Torsten Sløk, asset manager Apollo’s chief economist, said the S&P 500’s biggest firms were “more overvalued than they were in the 1990s.
” The 2000 dotcom crash wiped $5 trillion off the stock market, so if Sløk is right, it could mean “the mother of all market crashes,” The Information said. Still, even if AI is a bubble, it still matters: The dotcom crash did not lead to the end of the internet.
Source coverage
Report Provider: Semafor
Author: Tom Chivers
Deeper analysis
Full source content
The artificial intelligence search engine Perplexity raised funds that valued it at $18 billion, intensifying fears of an AI bubble. The latest valuation is a huge increase on Jan. 2024, when the firm was estimated to be worth $500 million. Perplexity’s latest investment round came as Torsten Sløk, asset manager Apollo’s chief economist, said the S&P 500’s biggest firms were “more overvalued than they were in the 1990s.
” The 2000 dotcom crash wiped $5 trillion off the stock market, so if Sløk is right, it could mean “the mother of all market crashes,” The Information said. Still, even if AI is a bubble, it still matters: The dotcom crash did not lead to the end of the internet.
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