Former TikTok CEO Kevin Mayer Says AI Hype Has Peaked, Warns of 'Astronomical' Valuations

Former TikTok CEO and current Candle Media co-CEO Kevin Mayer expressed his belief that the hype surrounding artificial intelligence has peaked. He acknowledged the underlying value of AI but cautioned that company valuations in the AI space appear "astronomical" and are due for a "stabilization." Mayer noted that while AI provides valuable capabilities that have not been seen before, the hype cycle has been dramatic. Many believe AI will disrupt every aspect of the economy and personal lives. Mayer believes the hype is already vastly overblown, with too many companies attracting capital at inflated valuations.