Showing posts with label Alphabet. Show all posts
Showing posts with label Alphabet. Show all posts

Tuesday, 18 November 2025

No firm is immune if AI bubble bursts

According to Reuters, Alphabet Chief Executive Sundar Pichai said no company would be unscathed if the artificial intelligence boom collapses, as soaring valuations and heavy investment in the sector fuel concerns of a bubble.

Pichai said in an interview with the BBC published on Tuesday that the current wave of AI investment was an "extraordinary moment" but acknowledged "elements of irrationality" in the market, echoing warnings of "irrational exuberance" during the dotcom era.

There has also been much debate among analysts about whether AI valuations are sustainable.

Asked about how Google would cope with a potential bursting of a bubble, Pichai said he thought it could weather the storm but added, "I think no company is going to be immune, including us."

Alphabet shares have surged about 46% this year, as investors bet on its ability to compete with ChatGPT-maker OpenAI.

In the United States, concerns about lofty AI valuations have begun to weigh on broader markets, while British policymakers have also flagged bubble risks.

In September, Alphabet pledged 5 billion pounds over two years for UK AI infrastructure and research, including a new data centre and investment in DeepMind, its London-based AI lab.

Pichai also told the BBC in the interview conducted at Google's California headquarters that Google would begin training models in Britain, a move Prime Minister Keir Starmer hopes will bolster the country's ambition to be the world's third AI "superpower" after the United States and China.

Pichai also warned of the "immense" energy needs of AI and said Alphabet's net-zero targets would be delayed as it scales up computing power.

 

Wednesday, 21 June 2023

United States to ease visas for skilled Indian workers

The Biden administration will make it easier for Indians to live and work in the United States, using this week's state visit by Prime Minister Narendra Modi to help some skilled workers enter or remain in the country, according to a Reuters report.

The State Department could announce as soon as Thursday that a small number of Indians and other foreign workers on H-1B visas will be able to renew those visas in the US, without having to travel abroad, part of a pilot program that could be expanded in coming years.

Indian citizens are by far the most active users of the US H-1B program and made up 73% of the nearly 442,000 H-1B workers in fiscal year 2022.

"We all recognize that mobility of our people is a huge asset to us," said another US official. "And so our goal is to approach that in a sort of multifaceted way. The State Department already has been working very hard to find creative ways to make changes to things."

A State Department spokesperson declined to comment on questions about which visa types would qualify or the timing of the pilot launch. Plans for a pilot program were first reported by Bloomberg Law in February.

"The pilot would begin with a small number of cases with the intention to scale the initiative over the following one to two years," the spokesperson said, while declining to define small.

The steps could change and are not finalized until they are announced. The White House declined to comment.

Each year, the US government makes 65,000 H-1B visas available to companies seeking skilled foreign workers, along with an additional 20,000 visas for workers with advanced degrees. The visas last for three years and can be renewed for another three years.

The companies using the most H-1B workers in recent years include the Indian-based Infosys and Tata Consultancy Services as well as Amazon, Alphabet and Meta in the US, according to US government data.

The ability for some of the temporary foreign workers to renew visas in the US would free up resources for visa interviews in consulates abroad, the spokesperson said.

The pilot program would also include some workers with L-1 visas, which are available to people transferring within a company to a position in the US, one of the sources said.

A separate initiative to clear a backlog of visa applications at US embassies in India is finally showing signs of progress, according to another one of those sources, and is expected to be figure into the discussions between the delegations of two countries in Washington this week.

India has long had concerns with the difficulty its citizens face in receiving visas to live in the United States, including technology industry workers. More than 10 million jobs stood open in the United States at the end of April, according to the Labor Department.

Some H-1B visa holders in the US have been among the thousands of tech workers laid off this year, sending them scrambling to find new employers within a 60-day grace period or return to their home country.

The Biden administration has spent months working to improve visa access for Indians, trying to get around the lack of political will in Congress to comprehensively reform US immigration policy. President Joe Biden wants to knit together the world's two largest democracies, partly in a bid to better compete with China.

US visa services are still attempting to clear a backlog after Washington halted almost all visa processing worldwide in March 2020 due to the COVID-19 pandemic. The visa backlog has led to some families being separated for extended periods of time, with some taking to social media to lament their situation.