Legendary investor Bill Ackman’s 3 predictions about the AI bubble: 1. Computing power isn’t a bubble MSFT, AMZN, Meta, SPCX are going to make bank, with company valuations skyrocketing! Throwing crazy amounts of money into building data centers isn’t a bubble because computing power is in short supply. 2. Free open-source models will crush OpenAI and Anthropic Not optimistic about the business models of companies like OpenAI and Anthropic! Open-source models from China and globally are getting stronger and cheaper, and the paid giants’ moats are about to disappear. 3. Enterprise AI spending is out of control, burning money unsustainably Companies can’t rein in the high costs of AI API tokens, and they’ll inevitably cut back on spending in the future.