Ferrari Chairman John Elkann Expresses Confidence in AI's Long-Term Potential Despite Business Model Uncertainties
John Elkann, chairman of Ferrari and Stellantis, expressed confidence that a potential artificial intelligence (AI) bubble will not hinder the technology’s long-term progress. In an interview with CNBC at Italy's Wave 2026 tech conference in Turin, he acknowledged concerns about a mismatch between high AI infrastructure investment and uncertain revenue-generating business models. Elkann emphasized that while financial speculation can create bubbles, investor focus should remain on the trajectory of technological advancement rather than short-term market corrections. He also highlighted Europe's potential to compete with U.S. and Chinese tech firms by showcasing companies like Bending Spoons as examples of European innovation capable of global expansion. The industrialist noted that energy consumption remains a challenge for AI technologies, but he believes the long-term direction is positive.
Topics: Artificial Intelligence European Tech Sector Market Bubble Concerns