Global week ahead: AI wobble casts shadow over 'Davos for geeks'

2 hours ago 3

The metropolis of Lisbon successful Portugal turns to tech adjacent week, arsenic it plays big to the yearly Web Summit conference. The event, besides known arsenic the "Davos for geeks," volition diagnostic immoderate of the biggest names successful exertion astatine an absorbing clip for the sector. It attracted much than 70 ,000 attendees past year.

Main signifier attractions see leaders from Meta, Lovable, Qualcomm and Microsoft to sanction conscionable a few. CNBC's Arjun Kharpal volition beryllium connected the ground, speaking to large players, including the CEOs of Lyft, Oura, DeepL and Cohere.

Portugal's Prime Minister Luis Montenegro speaks during the opening ceremonial of the Web Summit, successful Lisbon, Portugal, November 11, 2024.

Pedro Nunes | Reuters

The lawsuit comes arsenic the AI-fueled marketplace rally faces accrued scrutiny from investors, large marketplace voices, politicians and regulators. Concerns of a bubble successful the assemblage spooked planetary markets into a rollercoaster week, aft famed short-seller Michael Burry placed a monolithic $1.1 cardinal stake against AI darlings Nvidia and Palantir.

But tin this instrumentality the radiance disconnected AI astatine Web Summit successful Portugal this week? If the programme is thing to spell by, not lone is AI the ascendant topic, but besides the reply to astir each question. Headline panels are titled "Smarter plays: How AI is changing the game," "The property of AI," "The Future of AI is visual," and the "AI endowment wars." No notation of bubbles oregon over-inflated valuations.

The caller whiplash against large AI stocks from Silicon Valley to London to Tokyo volition surely formed a shadiness connected the event, but determination is thing other that's besides causing a headache to tech honchos arsenic they look to get successful Lisbon adjacent week.

According to reports, determination is simply a backstage pitchy logjam astatine Lisbon airdrome which has seen immoderate planes forced to crook distant and onshore astatine airports implicit 2 hours from the city. The Web Summit organizers reportedly told attendees, "Please beryllium advised determination is presently a shortage of backstage pitchy slots during Web Summit astatine Lisbon airdrome and surrounding smaller airports."