英国央行警告：AI估值"过高"，数据中心"瓶颈"或引发市场回调

Core Insights - The Bank of England has issued a clear warning that AI-related stock valuations are "overheated" and that the critical infrastructure supporting AI, such as data centers, faces "bottleneck" risks, which could lead to a significant market correction [1][4] - The central bank highlighted that the optimistic market expectations surrounding AI have pushed stock valuations to "tense" levels, with increasing market concentration making the stock market particularly vulnerable to shifts in sentiment [1][4] - The Bank of England emphasized that substantial bottlenecks in AI development, such as limitations in electricity, data, and commodity supply chains, could negatively impact company valuations, especially those reliant on high investment expectations in AI infrastructure [1][4] Valuation Concerns - The Bank of England believes that stock market valuations appear quite tense, particularly for technology companies focused on AI, with high valuations combined with increasing market concentration amplifying market fragility [4] - The current optimism in the market is largely based on expectations of continued large-scale investments in AI infrastructure, but the central bank warns that real-world resources required for AI development may not keep pace with explosive demand growth [4] - Concerns have been echoed by investment banks, with Goldman Sachs analysts identifying the power grid as a "vulnerable link" and warning it could become the next "bottleneck" [4] Diverging Opinions on AI Bubble - There is a significant divide among market giants regarding whether AI constitutes a bubble. Jeff Bezos views it as a potential "industrial bubble" that could drive societal progress, while other seasoned investors like Ray Dalio and David Einhorn express caution, likening current conditions to the late 1990s bubble [5] - Despite warnings, the complexity of financing mechanisms and strong government support may allow the current AI boom to continue expanding in the short term [5]