Google boss warns 'no company is going to be immune' if AI bubble bursts (www.bbc.com)

In an exclusive BBC interview, Alphabet CEO Sundar Pichai warned that if an AI investment bubble bursts "no company is going to be immune," even as he called the boom an "extraordinary moment" with elements of "irrationality." He noted runaway valuations—Alphabet’s market value doubling to about $3.5tn and Nvidia reaching a $5tn high—and flagged skepticism around a complex web of roughly $1.4tn in deals linked to OpenAI. Pichai said Alphabet is relatively well‑positioned because it controls a "full stack" (chips, models, data and services) and is developing specialised AI superchips to compete with Nvidia, but acknowledged that investment cycles can overshoot as in the dotcom era. Pichai also used the interview to outline concrete technical and policy moves: Alphabet will invest £5bn in UK AI infrastructure and research, including training models in the UK and expanding DeepMind work, and stressed AI’s growing energy footprint (roughly 1.5% of global electricity) as a constraint that has slowed near‑term climate progress despite a net‑zero-by‑2030 commitment. He reiterated that AI will reshape jobs—creating opportunities while disrupting roles—and urged adaptation to new tools, even as the industry navigates valuation, energy and societal risks.