I/O Fund lead tech analyst Beth Kindig says the artificial intelligence market is large enough to support multiple winners, including Google and OpenAI.
In a new Fox Business interview, the tech analyst believes that AI’s economic impact will far exceed earlier technology cycles, sparking a macro-scale transformation rather than a single-product or platform story.
While there appears to be a widespread belief that Google is winning the AI race, Kindig says it makes no sense to give up on OpenAI.
“AI is expected to have a $15 trillion impact on GDP. Some [project] as high as $20 trillion. There is room for both. And it’s not about search. This is about embedding that large language model into as many applications and enterprise workloads as possible. That’s what OpenAI and Google are after.”
Kindig says she’s also keeping a close watch on Meta after the firm cut more than 1,000 jobs from its Reality Labs division to pivot away from AR/VR and into AI-focused wearables and phone-based features.
“I’m in favor of this. Let’s get rid of the AR and the VR. Let’s focus on AI. It may shock you. It shocked me to find out that Meta is number two, second to Nvidia on AI revenue. It has a $60 billion run rate on its AI revenue. That’s number two to Nvidia.”
She says that revenue profile changes how Meta should be viewed by the market, especially as it reallocates resources away from its metaverse ambitions. She also sees Meta as a stock that investors may “buy soon.”
“Meta should really double down on AI.”
Kindig’s thesis underscores a broader shift across Big Tech, where AI model deployment, not experimental hardware platforms, is increasingly seen as the primary driver of future revenue and market leadership.
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