Groundbreaking, transformative, a new way to unlock human creativity and productivity.

Tech CEOs promise artificial intelligence will do many things for us.

They've used those promises to justify billions of dollars of investment

in building the language models and data centers needed to power AI. Four of the world's

biggest tech companies, Meta, Amazon, Microsoft, and Google promised to collectively spend $380

billion this year on the AI buildout.

That spending coincides with huge rallies in these companies' stock prices.

There are now hundreds of private AI companies with values on paper of over a billion dollars.

And in October, the AI boom created the world's first company worth $5 trillion.

It just continues to go higher. It is opening at a $5 trillion in video. It just continues to go higher.

It is opening at a $5 trillion market cap.

The shares trading for $207.88 up another 3.4%. So is the spending justified?

Do these company's stock values hint at a financial bubble in AI that's like past bubbles, or is AI different?

We get into it after the break.

I'm Jen White.

You're listening to the 1A podcast.

Stay with us.

We've got a lot to get to.

Joining us from San Francisco is Shereen Gavari. She's an AI reporter for Bloomberg News.

Shereen, welcome to the program. Thanks for having me. And joining us from Cambridge, Massachusetts,

is Jason Furman. He's a professor of economics at Harvard University. He previously served as the

chair of the Council of Economic Advisors for President Obama. Jason, welcome back.

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