Ken Griffin says AI is almost certainly in a bubble right now

What happened

Citadel founder Ken Griffin spoke at the Future of Global Markets Conference on October 20, 2026, warning that investors are almost certainly in the middle of an AI bubble.

Context and impact

Griffin's warning comes amid record AI investment and ahead of Anthropic's planned IPO. Carlyle estimated private credit may need to supply ~$1 trillion for AI infrastructure. The Nvidia-backed Firmus Grid IPO was pulled in October 2026 due to weak investor demand.

Details

• Griffin: AI is almost certainly a bubble — a qualified warning, not certainty
• Draws parallels to the dot-com bubble and other tech cycles
• Firmus Grid IPO (Nvidia-backed) pulled in October 2026 due to weak demand
• SpaceX reportedly in talks for $40 billion in bank loans to buy Nvidia chips
• Carlyle: private credit sector may need to supply roughly $1 trillion for AI infrastructure