Griffin: AI Is "Almost Certainly" in a Bubble
nashnova research
Citadel founder Ken Griffin called AI 'almost certainly' a bubble — yet his regret over selling Amazon hints that the bubble's eventual survivors could still be generational winners.
What exactly did he say?
Griffin told the "Future of Global Markets" summit in New York on Tuesday that investors are "almost certainly" in an AI bubble.
He drew a direct parallel to the dot-com era, citing the "fanciful" business models it produced.
This means → in his view the disruption is real, but the market has priced it ahead of reality.
If it is a bubble, why does he regret selling Amazon?
Griffin said: "I just wish I hadn't sold my Amazon stock."
In plain terms = the dot-com bust wiped out most players, but Amazon survived and rose hundreds of times over — a bubble does not mean total wipeout.
This reflects his real message: bubbles pop, but the few survivors inside them can be worth holding for the long run.
How has his view on AI shifted this year?
In January at Davos, Griffin dismissed AI as "crap."
By May at Stanford GSB, he said AI's capabilities made him "depressed" — implying he had underestimated them.
This means → from "crap" to "depressed" to "bubble," his language has escalated step by step: he no longer denies AI's value but worries price has detached from value. This is his most measured — and most market-relevant — statement to date.
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