Alibaba Group (BABA) Chairman Joe Tsai said he saw the possibility of a bubble forming on the announced huge investments in artificial intelligence data centers in the US, multiple media outlets reported.
"People are talking about $500 billion, several hundred billion dollars. I don't think that's entirely necessary. I think in a way, people are investing ahead of the demand that they're seeing today," Reuters quoted Tsai as saying at the HSBC Global Investment Summit in Hong Kong Tuesday.
Tsai noted that some AI data center projects have started raising funds without securing uptake agreements, which he said made him "start to get worried," Bloomberg reported.
Tsai also said that Alibaba would restart hiring, encouraged by the meeting of business leaders with Chinese President Xi Jinping in February.
Alibaba did not immediately reply to a request for comment from MT Newswires.
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