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Between bots calling themselves ‘Mecha-Hitler’ and 95% of businesses realising they don’t know the point of AI, 2025 was the year the tech lost its shine even for the most blinkered execs

As it progressed, I increasingly came to think of 2025 as ‘the year of headlines you’d normally read in newspapers in Deus Ex’. “America is now one big bet on AI,” read a piece in the FT. “CoreWeave’s Staggering Fall From Market Grace Highlights AI Bubble Fears,” fretted the WSJ. “Google CEO’s warning about the AI bubble bursting: ‘No company is going to be immune, including us’,” squawks some weird mag called PC Gamer.

People have been muttering about an AI bubble since the tech first started worming its way into every device in our lives, but is it just me, or does it feel like even the imperforate auras of delusion that surround the world’s tech CEOs have started to weaken lately? It’s no longer just wild-eyed street prophets (I mean that with affection, Ed Zitron) foretelling doom; even the smoothest brains in the C-suite are beginning to eye one another nervously, quietly praying they’re not the ones left holding the bag.

(Image credit: Getty Images)

Let me put the mandatory disclaimer right here, up top: I’m not saying AI is set to vanish in a puff of smoke, never to darken our doorway again, but I am saying that 2025 felt like the year the money-mad shine came off the tech. Hell, Sam Altman went on Fallon. Nothing goes on Fallon if it’s doing well.

Is that good?

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