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Applied AI·November 11, 2026·1 min read

Kai-Fu Lee Questions Soaring AI Valuations

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When a long‑time AI investor flags circular funding and cheaper Chinese/open‑source models, it’s a warning that not all trillion‑dollar narratives will clear. Operators should assume model prices and moats will compress faster than the hype suggests and build around adaptability, not single‑vendor dependence.