Google and Oracle Executives Downplay Concerns About AI Bubble

247 - During the Future Investment Forum (FII), held this week in Riyadh, Saudi Arabia, executives from major technology companies argued that the current boom in artificial intelligence (AI) does not represent a speculative bubble, but rather the beginning of a new phase of global expansion. The statements were published by [source missing]. Bloomberg this Tuesday (28).

The CEO of Oracle, Mike SiciliaHe stated that the next stage of AI will be marked by the integration of private data and advanced models in sensitive sectors such as banking and healthcare. According to him, "demand far exceeds supply," ruling out the possibility of a speculative collapse. Sicilia explained that companies in these areas have been cautious in using AI due to the risk of data leaks, but predicted a rapid transformation as technological security evolves.

Humain and Saudi Arabia's ambition in AI.

The forum also highlighted the role of Human, a company launched in May by Saudi Arabia Public Investment Fund, valued at US$925 billion. The company is central to the Saudi strategy to consolidate regional leadership in AI, unifying initiatives in data centers, cloud computing, and semiconductors.

Within a few months, Humain established partnerships and began negotiations with industry giants, including... AMD and XAI, company of Elon MuskThe company also created the fund. Human Ventures, worth US$10 billion, aimed at investing in technology startups.

during the panel "Who leads the world with AI?", the CEO of Humain, Tareq AminHe stated that the world still underestimates the potential of the technology. "The demand is much greater than people imagine," said Amin. Ruth Borat, financial director of A (Google's parent company) emphasized that the market is only at the beginning of large-scale adoption of AI.

Private capital and global liquidity

The event also addressed liquidity shortages and the growing importance of private markets for global financing. The CEO of franklin templeton, Jenny JohnsonHe highlighted the need to expand access to private capital and commented that, despite fiscal tensions and the increase in US debt, the economic outlook still inspires confidence. "It's not a problem until it becomes a problem," he stated.

Investors like Bill Ackman e Steve Schwarzman They agreed that the continued growth of the American economy is sufficient, for now, to contain concerns about indebtedness.

AI in the financial sector

The advancement of AI has also reached the internal operations of large banks. Citigroup began using technology to automate performance reporting, a process described by its CEO, Jane fraser, as one of the “most dreaded” tasks in the annual management cycle. According to Bloomberg, the move is part of the financial sector's effort to apply AI to administrative and analytical functions.

Energy and the future of hydrocarbons

In addition to discussions about technology, the president and CEO of Saudi Aramco, Amin Nasser, predicted that global demand for oil could grow to 1,4 million barrels per day in 2026This contradicts predictions from the International Energy Agency (IEA), which points to a record supply surplus. Nasser also noted that, in the last decade, the combined demand for oil, gas, and coal has increased by about 15%, while renewable sources have only offset a small fraction of that growth.

Bloomberg notes that, although the energy transition is a constant theme in global forums, oil industry leaders remain confident that hydrocarbons will play a significant role in the energy mix for many years to come.