Goldman Sachs Warns On AI Investment As Research Head Says Profit Problem Is Getting Bigger (opens in new tab)

Goldman Sachs’ Head of Global Equity Research, Jim Covello, has delivered a sharp warning on the massive AI spending boom\. Despite hundreds of billions being poured into AI by Big Tech, Covello says the business case for AI remains unproven\. He notes that companies are actually moving further away from justifying these huge investments, not closer\. While consumer adoption and model capabilities have exceeded expectations, real economic returns are still largely missing\. Most of the profit...