408. Is AI in a bubble?

AI spending continues to reshape markets, but after several years of extraordinary growth, are the most obvious opportunities becoming harder to find? We discuss signs of bubble-like behaviour, with Mikhail Zverec and Graeme Bencke, co-managers of the WS Amati Global Innovation fund, who elaborate on the slowing growth in AI capital expenditure and why the next phase could favour less obvious beneficiaries. The interview explores physical AI, robotics, industrial automation and the specialist...