AI · SEMICONDUCTOR · FACT CHECK
SKD WIRETrue
John Elkann, chairman of Ferrari and head of the Exor holding group, has said he does not believe the current surge in AI investment constitutes a bubble, though he noted that revenue models around the technology remain uncertain, according to remarks carried by NBC News.
Elkann, whose investment group holds stakes across major global companies, said he does not subscribe to the view that AI is a bubble. At the same time, he acknowledged that how companies will generate returns from AI investments is not yet clear, leaving the commercial viability of the technology an open question.
His remarks come amid ongoing debate over whether heavy spending on AI infrastructure and development is sustainable, and whether valuations across the sector reflect genuine long-term demand or speculative excess.
Commentators and investors remain divided on the question. Some point to the rapid pace of capital expenditure on data centers and chips as a sign of overheating, while others argue that real enterprise demand for AI services justifies current levels of investment.
Elkann's stance places him among those who see the underlying technology trend as sound, even as he flagged uncertainty on the monetization side — a distinction between questioning the technology's value and questioning the business models built around it.
The chairman's comments, as reported, did not specify a timeline for when AI revenue models might become clearer.
The claim that Elkann said he does not believe in an AI bubble while acknowledging uncertain revenue models is True.
