Execs warn of AI overheating at Hong Kong summit as markets shudder

Asian stocks follow US selloff; HSBC chief also calls out risks of decentralized finance

20251105 ai data centers

Wiring at a Microsoft data center in the U.S.: Global companies are projected to invest $7 trillion in data centers for AI by 2030. © Reuters

LORRETTA CHEN and PEGGY YE

HONG KONG -- Global financial executives attending a Hong Kong financial summit this week warned about misallocations of capital and "irrational exuberance" in data center investments for artificial intelligence, adding to bubble concerns that are now rocking global markets.

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