Don’t get too excited about AI’s downfall

On Wednesday, the Bank of England cautioned that the risk of a “sudden correction” to global markets is growing as the valuations of top AI companies increase. It’s been a big couple weeks for OpenAI. The most valuable startup in the world recently announced that ChatGPT will become more like an operating system, released its first social networking app, and even spread rumors about launching a device designed to make us happy. There is some tricky accounting along the way, of course. These big product announcements happened after chipmaker Nvidia, the most valuable company in the wor