Ken Griffin, founder of Citadel, stated on October 20, 2026, at the annual Future of Global Markets Conference that investors are “almost certainly” caught in an AI bubble. He noted that companies are spending heavily on AI without being able to demonstrate clear productivity gains, particularly with providers like Anthropic and OpenAI. US data center spending linked to AI is projected to exceed $500 billion in 2026. Despite his warnings, Griffin acknowledged that his own firm has reduced the time required for certain high-level finance research from 6-8 weeks down to 2-3 hours using agentic AI tools.
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