Microsoft chief scientist Eric Horvitz: AI bubble may mirror 1847 railway boom, infrastructure wins
erichorvitz · x · 2026-10-24
Microsoft chief scientist Eric Horvitz drew on Britain's 1847 railway boom in a new interview: railway investment then peaked at 7.3% of GDP, shares fell about two-thirds, yet the lines kept running. He expects AI to follow the same pattern — some investors will lose heavily, but the AI infrastructure itself will endure and win out.
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