State Street Corporation (STT.US) Chairman and CEO Ron O’Hanley said it is hard to see AI as a bubble, as market demand is supporting substantial investment in AI technology.

He said the construction of new data centers is not being carried out speculatively, but is backed by real orders. Whether a bubble emerges will depend on whether AI becomes more efficient, making all the capacity currently under construction redundant.

Following the earnings release by Alphabet Inc. (GOOGL.US), some market selling may have already been inevitable. O’Hanley said some selling in the market may have been overdue, but at present the market does not appear to be experiencing disorderly conditions.
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