Binance Founder CZ Says Most AI Companies Will Go Bankrupt

Binance founder Changpeng Zhao, known as CZ, said most artificial intelligence companies will go bankrupt.

Zhao wrote on X on May 29 that AI will continue to exist and grow exponentially, but most AI companies will fail.

Even the companies that survive will see sharp swings in their share prices, he wrote. New survivors will emerge as well. AI is ultimately no different from other new industries, he added.