CEO warns against investing in the 'AI hype'

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VaynerMedia CEO and VaynerX Chairman Gary Vaynerchuk signaled that artificial intelligence (AI) is “one of the biggest technologies in the history of mankind” — but explained why he’s not jumping to invest in the tech space.

“I’ve seen Web1, I’ve seen Web2, I’ve seen Web3. I’m looking at AI startups every day as an investor. I just think there’s a million of them right now, and they’re all valued very expensive because we’re in AI hype,” Vaynerchuk said Wednesday in an exclusive FOX Business interview on “The Claman Countdown.

“So I’m just trying to be a little bit thoughtful because I tend not to like to lose money when I invest, and so I’m letting it settle a little bit, see who are the good operators. I’d rather pay a little higher valuation and see traction,” he continued. “But look, this is one of the biggest technologies in the history of mankind. Every single person watching this who right now hates AI, they will all use it.”

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