History shows a bubble burst is coming for artificial intelligence boom

The massive investment in artificial intelligence infrastructure currently being made probably counts as the biggest and fastest rollout of a general-purpose technology in history.

This year and next, Google, Amazon, Microsoft and Meta alone will spend a staggering $US750 billion ($1.2 trillion) on data centres to power their AI models, with Morgan Stanley forecasting total global spending in this area will reach $US3 trillion by 2029.

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