As fears of an AI-fueled economic bubble continue to grow, some of Wall Street’s biggest voices say there’s no reason to panic.
According to NBC NewsJoseph Briggs, an economist at Goldman Sachs, told clients that increasing investment in AI – from cloud infrastructure to new data centers – is not a sign of irrational hype.
His note, title “AI spending is not too big,” argued that the technology is already boosting productivity and could generate “outsized returns in the long run.”
Bottom line: If AI continues to improve, the billions being pumped into it could prove not only sustainable, but essential.
Briggs is not alone. Jamie Dimon, CEO of JPMorgan Chase, compared the current AI boom to the early days of the Internet.
“You can’t think of AI as a bubble,” he said at a conference. Fortune conference, adding that transformative technology cycles are often met with skepticism before reshaping entire industries.
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Beyond financial markets, the rapid expansion of AI has environmental consequences. Training large models and operating data centers consume enormous amounts of electricity and water – the former often comes from dirty fuels, increasing pollution linked to global warming.
At the same time, AI offers opportunities to reduce environmental impact. It helps optimize renewable energy systems, reduce waste and manufacturing, and accelerate advances in clean materials and more efficient designs. These innovations show how AI can generate practical solutions for a greener and more sustainable lifestyle.
As AI enters everyday life – from smart thermostats to electric cars — it helps people save energy and money by adjusting heating, predicting solar and wind peaks and even making city traffic easier.
On a larger scale, it is driving innovations like better batteries, real-time monitoring of deforestation, and tracking pollution, making sustainable living more practical than ever.
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“This is only the beginning” said Jim Cramer, host of Mad Money. “Once the losers were eliminated, the winners won big.”
Briggs agreed that the momentum is real, noting that “the enormous economic value promised by generative AI justifies current investment in AI infrastructure.”
The rise or collapse of AI may depend on the balance between innovation, profit and sustainability.
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