顶尖AI大会调研“你会做空哪家初创公司？”，排名第一是Perplexity，第二是OpenAI

Core Viewpoint - The article highlights growing concerns within Silicon Valley regarding the sustainability of valuations for leading AI startups, particularly Perplexity and OpenAI, amidst an ongoing AI investment frenzy [1][2][3]. Group 1: Survey Results and Industry Sentiment - An informal survey at the "Cerebral Valley" AI summit indicated that Perplexity and OpenAI were viewed as the most likely high-valuation AI companies to fail, reflecting a consensus that the industry is experiencing an AI bubble [2][3]. - The survey, conducted among over 300 founders and investors, asked which AI startup with a valuation over $1 billion they would short, with Perplexity topping the list, followed closely by OpenAI [1][2]. Group 2: Perplexity's Valuation Concerns - Perplexity has rapidly increased its valuation from $14 billion to as high as $50 billion, making it a prime example of the AI bubble phenomenon [5]. - The company has been engaging in frequent fundraising rounds, attracting significant investor interest, which raises questions about the sustainability of such high valuations [5]. Group 3: OpenAI's Financial Sustainability Issues - OpenAI, despite being seen as a major winner in the AI space, faces scrutiny over its massive infrastructure spending commitments, which reportedly could reach trillions of dollars [7]. - Concerns have been raised about how a company with an annual revenue of $13 billion can justify such high spending commitments, leading to doubts about its financial sustainability [7]. Group 4: Diverging Market Perspectives - Despite the bearish sentiment, there is a significant divergence in market expectations, as both Perplexity and OpenAI also appeared on a list of companies investors would bet on, indicating high-risk, high-reward dynamics in the AI investment landscape [10]. - Anthropic emerged as a leading candidate for investment, with a potential valuation of $350 billion, showcasing the mixed sentiments within the industry [10].