Ferrari Chairman John Elkann Dismisses AI Bubble Concerns Amid Revenue Questions
· Technology · CNBC, ABC News (AU)
Ferrari chairman John Elkann has rejected fears of an artificial intelligence bubble, telling CNBC that market corrections will not impede the technology's long-term progress. Speaking at the Wave 2026 technology conference in Turin, the billionaire industrialist highlighted a mismatch between surging capital investment in AI infrastructure and the uncertainty surrounding business revenue models. Elkann noted that while energy and compute requirements remain high, firms must still establish clear monetization mechanisms. He also expressed confidence in European tech companies, pointing to Milan-based conglomerate Bending Spoons as an example of regional firms competing globally. The Meta Platforms board member emphasized that strong technical capabilities will continue to attract investor capital across Europe.
Why it matters
John Elkann's perspective highlights the growing tension between heavy infrastructure investments in artificial intelligence and the lack of proven revenue models for enterprises.
Read the original report — CNBC
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