GMO's Grantham Calls AI Spending a Bubble, Big Tech in a 'Fight to the Death'

Veteran investor Jeremy Grantham, co-founder of asset manager GMO, has described the AI race among Big Tech companies as a "fight to the death" and called the current wave of AI-related investment a clear bubble. Citing SpaceX's record-setting initial public offering (IPO) as a symbol of speculative fervor, he argued that while AI infrastructure spending is propping up the economy, the risks of overinvestment are mounting.