How else could one explain why four companies that reported combined capital expenditure of $246bn in 2024 – up from $151bn in 2023 – now propose to spend more than $320bn this year on AI, a technology for which no business model currently exists that could conceivably provide a reasonable rate of return on such an investment?.
“On one side,” he writes, “are those who strive for artificial general intelligence (AGI), the point where machines match or surpass human capabilities.
At a party thrown by his parents to celebrate his graduation, Benjamin (Dustin Hoffman) is approached by Mr McGuire, an elderly bore who wants to say “just one word” to him: “plastics”.
Deciding which side to back in this AI civil war will be a defining decision for investors in the world’s hottest technology.”.
More importantly, though, its AlphaFold model solved a major (and formidably difficult) problem in biochemistry – predicting how proteins fold – and then led to a spin-off company that is using the technology for drug discovery.
