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Boom or bubble: How long can the AI investment craze last?

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Boom or bubble: How long can the AI investment craze last?


OpenAI, led by CEO Sam Altman, sits at the center of an AI investment bonanza.

The staggering investments in artificial intelligence keep coming: Last week, AI chip giant Nvidia announced it would invest $100 billion to help OpenAI, the frontrunner in generative AI, build data centers.

How are these enormous sums possible when the returns on investments, at least for now, pale in comparison?

Huge investments

AI-related spending is soaring worldwide, expected to reach approximately $1.5 trillion by 2025, according to US research firm Gartner, and over $2 trillion in 2026—nearly 2% of global GDP.

Even though tangible returns fall short of the investments going in, the AI revolution appears unstoppable.

“There’s no doubt among investors that AI is the major breakthrough technology”—on par with harnessing electricity, said Denis Barrier, head of investment fund Cathay Innovation.

Silicon Valley’s mindset “is more about seizing the opportunity” than worrying about any risks, he said.

Geopolitical tensions are helping drive the frenzy, primarily to build massive housing tens of thousands of expensive chips that require phenomenal electrical power and large-scale, energy-hungry cooling.

From 2013 to 2024, private AI investment reached $470 billion in the United States—nearly a quarter in the last year alone—followed by superpower rival China’s $119 billion, according to a Stanford University report.

Just a handful of giants are on the receiving end, with OpenAI first in line.

In March 2025, ChatGPT’s parent company raised approximately $40 billion, bringing its estimated valuation to around $300 billion, according to analysts.

‘Circular funding’

OpenAI is now the world’s most valuable company, surpassing SpaceX, worth $500 billion in a deal for employees to sell a limited number of shares.

The company led by CEO Sam Altman sits at the center of an AI investment bonanza: It oversees the Stargate project, which has secured $400 billion of the $500 billion planned by 2029 for Texas data centers spanning an area the size of Manhattan.

The White House-backed consortium includes Softbank, Oracle, Microsoft and Nvidia.

Nvidia, which completed over 50 venture capital deals in 2024 according to PitchBook data, is often chided for practicing “circular funding”—investing in startups that use the funds to buy its chips.

Some analysts criticize this as bubble-fueling behavior.

The OpenAI deal “will likely fuel those concerns,” said Stacy Rasgon, a Bernstein Research analyst.

In the first six months of 2025, OpenAI pulled in around $4.3 billion in revenue, specialist outlet The Information reported this week.

Therefore, unlike Meta or Google with substantial cash reserves, OpenAI and competitors like Anthropic or Mistral must be creative in their search for funds to bridge the gap.

For AI believers, an explosion in revenue is only a matter of time for a company whose ChatGPT assistant serves 700 million people—reaching nearly 9% of humanity less than three years after launch.

‘Up in smoke’

Nothing is certain, however.

Feeding AI’s computing appetite will cost up to $500 billion annually in global data center investments through 2030, requiring $2 trillion in annual revenues to make the expenses viable, according to consulting firm Bain & Company.

Even under optimistic assumptions, Bain estimates the AI industry faces an $800 billion deficit.

OpenAI itself plans to spend over $100 billion by 2029—meaning turning a profit is still a ways off.

On the energy front, AI’s global computing footprint could reach 200 gigawatts by 2030—the annual equivalent of Brazil’s electric consumption—half of that in the United States.

Despite the daunting figures, many analysts remain optimistic.

“Even with concerns about a possible ‘AI bubble’… we estimate the sector is in its 1996” moment during the , “absolutely not its 1999” before that , said Dan Ives, a Wedbush Securities analyst.

Long-term, “many dollars will go up in smoke, and there will be many losers, like during the internet bubble, but the internet remained,” said the Silicon Valley investor.

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This Backyard Smoker Delivers Results Even a Pitmaster Would Approve Of

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This Backyard Smoker Delivers Results Even a Pitmaster Would Approve Of


While my love of smoked meats is well-documented, my own journey into actually tending the fire started just last spring when I jumped at the opportunity to review the Traeger Woodridge Pro. When Recteq came calling with a similar offer to check out the Flagship 1600, I figured it would be a good way to stay warm all winter.

While the two smokers have a lot in common, the Recteq definitely feels like an upgrade from the Traeger I’ve been using. Not only does it have nearly twice the cooking space, but the huge pellet hopper, rounded barrel, and proper smokestack help me feel like a real pitmaster.

The trade-off is losing some of the usability features that make the Woodridge Pro a great first smoker. The setup isn’t as quite as simple, and the larger footprint and less ergonomic conditions require a little more experience or patience. With both options, excellent smoked meat is just a few button presses away, but speaking as someone with both in their backyard, I’ve been firing up the Recteq more often.

Getting Settled

Photograph: Brad Bourque

Setting up the Recteq wasn’t as time-consuming as the Woodridge, but it was more difficult to manage on my own. Some of the steps, like attaching the bull horns to the lid, or flipping the barrel onto its stand, would really benefit from a patient friend or loved one. Like most smokers, you’ll need to run a burn-in cycle at 400 degrees Fahrenheit to make sure there’s nothing left over from manufacturing or shipping. Given the amount of setup time and need to cool down the smoker after, I would recommend setting this up Friday afternoon if you want to smoke on a Saturday.



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Make the Most of Chrome’s Toolbar by Customizing It to Your Liking

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Make the Most of Chrome’s Toolbar by Customizing It to Your Liking


The main job of Google Chrome is to give you a window to the web. With so much engaging content out there on the internet, you may not have given much thought to the browser framework that serves as the container for the sites you visit.

You’d be forgiven for still using the default toolbar configuration that was in place when you first installed Chrome. But if you take a few minutes to customize it, it can make a significant difference to your browsing. You can get quicker access to the key features you need, and you may even discover features you didn’t know about.

If you’re reading this in Chrome on the desktop, you can experiment with a few customizations right now—all it takes is a few clicks. Here’s how the toolbar in Chrome is put together, and all the different changes you can make.

The Default Layout

Extensions are always easily accessible in Chrome.

Photograph: David Nield

Take a look up at the top right corner of your Chrome browser tab and you’ll see two key buttons: One reveals your browser extensions (the jigsaw piece), and the other opens up your bookmarks (the double-star icon). There should also be a button showing a downward arrow, which gives you access to recently downloaded files.

Right away, you can start customizing. If you click the jigsaw piece icon to show your browser extensions, you can also click the pin button next to any one of these extensions to make it permanently visible on the toolbar. While you don’t want your toolbar to become too cluttered, it means you can put your most-used add-ons within easy reach.

For the extension icons you choose to have on the toolbar, you can choose the way they’re arranged, too: Click and drag on any of the icons to change its position (though the extensions panel itself has to stay in the same place). To remove an extension icon (without uninstalling the extension), right-click on it and choose Unpin.

Making Changes

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The revamped toolbar customization pane.

Photograph: David Nield

Click the three dots up in the top right corner of any browser window and then Settings > Appearance > Customize your toolbar to get to the main toolbar customization panel, which has recently been revamped. Straight away you’ll see toggle switches that let you show or hide certain buttons on the toolbar.



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The Piracy Problem Streaming Platforms Can’t Solve

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The Piracy Problem Streaming Platforms Can’t Solve


“The trade-off isn’t only ethical or economic,” Andreaux adds. “It’s also about reliability, privacy and personal security.”

Abed Kataya, digital content manager at SMEX, a Beirut-based digital rights organization focused on internet policy in the Middle East and North Africa, says piracy in the region is shaped less by culture than by structural barriers.

“I see that piracy in MENA is not a cultural choice; rather, it has multiple layers,” Kataya tells WIRED Middle East.

“First, when the internet spread across the region, as in many other regions, people thought everything on it was free,” Kataya says. “This perception was based on the nature of Web 1.0 and 2.0, and how the internet was presented to people.”

Today, he says, structural barriers still lead many users towards illegal platforms. “Users began to watch online on unofficial streaming platforms for many reasons: lack of local platforms, inability to pay, bypassing censorship and, of course, to watch for free or at lower prices.”

Payment access also remains a major factor. “Not to mention that many are unbanked, do not have bank accounts, lack access to online payments, or do not trust paying with their cards and have a general distrust of online payments,” Kataya adds.

Algerian students also share external hard drives loaded with television series, while in Lebanon streaming passwords are frequently shared across households. In Egypt, large Telegram channels distribute content across different genres, including Korean dramas, classic Arab films and underground music.

“We grew up solving problems online,” says Mira. “When something is blocked, you find a way around it. It’s … a fundamental human instinct.”

Streaming Platforms Adapting

Andreaux says StarzPlay has tried to address some of the payment barriers that limit streaming adoption in the region. “StarzPlay recognized early that payment friction was a regional barrier to adoption,” he says. “That’s why we invested in flexible subscription models and alternative payment methods, including telecom-led billing options that make access easier across different markets.”

At the same time, international media companies are working together to combat piracy through the Alliance for Creativity and Entertainment (ACE), a coalition of film studios, television networks and streaming platforms that targets illegal distribution of films, television and sports content. Its members include global companies such as Netflix as well as regional players like OSN Group, which operates the streaming service OSN+ across the Middle East and North Africa.
Kataya notes that legitimate streaming platforms are still expanding across the region. “The user base of official streaming platforms has been growing in the region,” he says. “For example, Shahid, the Saudi platform, is expanding and Netflix has dedicated packages for the region.”

“Other players, like StarzPlay and local platforms in Egypt, are also finding their place,” Kataya adds. “Social media also plays a huge role, especially when a film is widely discussed or controversial.”

Piracy carries legal and security risks, Andreaux says. “Rather than just ‘free streaming’, piracy exposes consumers to malware and insecure payment channels,” he says. “It also weakens investment in local content by depriving creators of revenue and reducing jobs.”

But the structural barriers described by users across the region remain. For many viewers in North Africa and the Levant, the challenge is not choosing between piracy and legality—it is whether legitimate access exists at all.



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