Duckbucks: There’s now a lively debate around whether the AI capex boom is a bubble. From where you sit, what is driving all the investment — and how will the impact of generative and agentic AI tangibly play out at Citi and for clients?
Prag Sharma: I can’t comment on whether there is an AI bubble in the making or not, but one thing is clear: to scale AI — or, more accurately, generative AI and now agentic AI-powered applications — for use in corporate settings, we need ongoing investment in AI-related hardware and software algorithms for model development and training.
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