Gene Munster, the managing partner at Deepwater Asset Management, has once again hinted that the artificial intelligence market is in the early stages of a bull run that will eventually lead to a bubble.
What Happened: On Monday, Munster took to X, formerly Twitter, and reiterated his thoughts on the current state of the AI market, citing the latest reported valuation of Cognition Labs, a Peter Thiel-backed AI startup.
“When I read headlines of the "AI Frenzy" I think the chapter of AI value creation is just starting. I believe we're in the early stages of a 3-5 year bull market that will end in a bubble,” Munster stated.
The Tesla bull also shared a Wall Street Journal report that noted Cognition Labs is in discussions with investors to raise funds at a valuation of up to $2 billion—a number that marks a significant increase from the startup’s previous valuation of ...