I’ve known Doug Kass for a while now. He’s a veteran investor, and someone readers of TheStreet will know well from his years of sharp, independent market commentary. He also writes a great blog, and this week I read one of his better pieces yet on the artificial intelligence boom.
I thought it would be a great supplement to my recent piece on why I think the AI crash could start as soon as this year:
In his note, Doug makes it clear that he believes the funding cycle for artificial intelligence may already have peaked. Doug thinks that one of the clearest signals is the apparent urgency with which OpenAI and Anthropic are moving toward the public markets.
After years in which AI companies enjoyed abundant private capital, rapidly rising valuations, enormous strategic investments, and relatively little quarterly financial scrutiny, the obvious question is: Why the rush to go public now?