The AI boom is creating fortunes — but for how long?
Artificial intelligence has firmly established itself as one of the most disruptive forces in modern technology. In just a few years, the race to build models, infrastructure, and AI-powered applications has produced a new generation of extremely wealthy founders — many of them under 40.
But alongside this rapid rise comes an unavoidable question: are these fortunes truly solid, or are we witnessing another technology bubble driven by inflated expectations?
In 2025, the landscape echoes earlier moments in Silicon Valley history, particularly the dot-com boom of the late 1990s. The difference this time is speed.
Billionaires almost overnight
For past tech icons, reaching billionaire status took decades. Today’s AI founders often reach that milestone in less than three years, fueled by aggressive funding rounds following the release of ChatGPT and the surge in AI investment.
Several startups — some still without mature or widely adopted products — have reached multi-billion-dollar valuations, turning equity stakes into massive wealth, at least on paper.
Among them are companies such as:
- Scale AI, focused on data labeling
- Cursor, an AI-powered coding platform
- Perplexity, an AI-driven search engine
- Figure AI, developing humanoid robots
- Safe Superintelligence and Thinking Machines Lab, both still early-stage
What these companies share is not just innovation, but a market betting heavily on future potential rather than present results.
Paper wealth is not guaranteed wealth
Seasoned investors are already issuing a clear warning: valuation is not the same as real value.
Much of the new AI wealth depends on:
- continued investor confidence
- sustained market hype
- the ability to scale real products
- survival in an increasingly crowded ecosystem
As one Silicon Valley venture capitalist put it, the real test will be determining which companies endure — and which founders remain billionaires only on paper.
History suggests that in every major tech boom, many rise quickly, but only a few remain standing.
Youth, concentration, and familiar patterns
Another striking aspect of this new AI elite is how closely it mirrors past tech cycles:
- founders are overwhelmingly young
- the group is largely male
- wealth remains concentrated in traditional tech hubs
Despite its transformative promise, AI has not broken these patterns. It has simply accelerated them.
This concentration raises broader questions about:
- power and influence
- long-term economic inequality
- who ultimately benefits from AI’s rapid expansion
When innovation turns into euphoria
None of this suggests that artificial intelligence is a passing trend. The technology itself is real, powerful, and already reshaping entire industries.
The risk lies in confusing:
- genuine technological progress
- with
- market euphoria
When startups reach billion-dollar valuations before proving sustainable business models, markets begin to operate on promises rather than performance — a dynamic with a familiar ending.
A boom still waiting to be tested
The new AI elite may indeed become the next generation of global technology leaders. But that outcome is far from guaranteed.
In the end, the real measure of success will not be funding rounds or headline valuations, but:
- long-term viability
- real-world impact
- the ability to deliver value beyond hype
Until then, the AI boom will continue to generate spectacular fortunes — and equally significant doubts.
Reference
This article is based on a critical analysis of the original reporting:
“The New Billionaires of the A.I. Boom”
The New York Times, December 2025.
