AI bubble talk grips the market. But in the C-suite there's more FOMO over AI's benefits than fear of an AI bustup

Hello and welcome to Eye on AI. In this edition… Nvidia becomes the first $5 trillion market cap company…Anthropic finds AI models have ‘introspection,’ of a kind…and Meta , Alphabet , and Microsoft tell investors just how much they’ve been spending on AI data centers.

Hello, it’s Jeremy here. I’m just back from Fortune Global Forum in Riyadh, where AI was very much a central feature in many of the discussions. I will provide a few insights from what I learned there.

Of course, there was a lot of discussion at the event about whether there’s an “AI bubble”—and that was before we got the latest earnings and cap ex numbers from Meta, Microsoft, and Alphabet. Wall Street’s disparate reactions to the companies’ quarterly report cards show the market’s growing impatience to see tang