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Google DeepMind chief warns AI investment looks ‘bubble-like’ | FT Interview

Demis Hassabis says the level of investment in some parts of the tech industry had become detached from commercial realities

Demis, Google launched its most powerful model, Gemini 3, just a few months ago. It was received with a lot of excitement. Where do you think Google is right now on the AI race?

Well, we're very happy, as you say, with the last model we released, Gemini 3. It's topping pretty much all the leaderboards. So it's a great model. Feedback's been great from our users and enterprise customers.

But I think, overall, we have had a really good year last year when we look back on it. I think the trajectory of progress we've been making is the fastest of anyone in the industry. If you look at, Gemini 2.5, the previous version that we released in April/May last year, that was already becoming very competitive, I think, at the frontier.

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