Talk about An AI bubbles have been all over the place lately. Top tech companies such as Google, Meta and Microsoft are doubling down their AI investment for 2026. How have tech analysts predicted bubbles in the past? Michael Calore, Lauren Goode and Brian Merchant sit down to talk with Brian Merchant. Brian Merchant is a WIRED contributor as well as the author of the newsletter Blood in the Machine Break down the four factors that some researchers used to predict and prepare for disaster.
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Transcript
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Michael Calore: How are you?
Lauren Goode: I’m OK, Mike. Since it’s the earnings season here at WIRED, many of us have been watching and listening to tech company earnings reports as well as their earnings call. It’s CapEx, I suppose.
Michael Calore: CapEx?
Lauren Goode: Capital expenditures.
Michael Calore: CapEx you say?
Lauren Goode: Yeah. As a reporter for the business desk, I use CapEx.
Michael Calore: It’s you.
Lauren Goode: It’s a common thing for me to throw around at parties. It’s not true. We are noticing a pattern where tech companies have piles of cash, yet they don’t sleep on them. The companies are sharing their big plans for spending on AI infrastructure.
Michael Calore: Right. Data centers.
Lauren Goode: Yes, we need more than just data centres. That’s definitely a major part.
