Alexis Ohanian stated that he is confident in AI investments.

Positive Views on Artificial Intelligence Investments

Alexis Ohanian, co-founder of Reddit, believes that artificial intelligence (AI) technology will be valuable in the long term. Ohanian made these remarks as the founder and general partner of the venture firm Seven Seven Six, during a period when investors were concerned that this technology could lead to a bubble in the stock market.

In an environment where investors are shying away from risky investments amid uncertainty, the Nasdaq Composite index fell by 2.3%. Stocks known as the “Magnificent Seven,” supported by AI, saw an overall decline of 2.7%. Notably, the AI chip producer Nvidia was among the most affected stocks, dropping by 3.6%.

Ohanian pointed out that some investors are worried that artificial intelligence may not provide sufficient returns to justify the hundreds of billions of dollars that major tech companies are spending on this technology. However, he said, "I don’t spend much time in public markets, so I can’t speak to those valuations, but the big trend is definitely real; the innovations and efficiencies we’re seeing are real too."

Sharing his thoughts on the stock market drop on September 21, Ohanian expressed that he has trusted technology trends for a long time. Describing himself as a "technology optimist," he emphasized that he believes AI will create more jobs than it eliminates. Goldman Sachs predicts that with widespread adoption of AI, 6% to 7% of the U.S. workforce could be impacted.

Like every technological revolution, Ohanian pointed out that new careers and opportunities will emerge, citing that in the past, being a content creator like MrBeast was an unimaginable profession. “Now, it's one of the most common careers that young people aspire to in their adulthood,” he said. “I believe this will be a clear gain, though this path will be challenging,” he added.