Xiaohu Zhu: Realism, the AI Feast and Its Bubbles, and a Fifteen-Degree Shift from Consensus

Description

In March 2024 and February 2025, I published two updates on Xiaohu Zhu (Managing Partner of GSR Ventures) and his Chinese Realist AIGC Story. Now, almost another year has passed. As we stand at the tail end of 2025, several questions arise: Is there a bubble in the AI industry? Will it burst? Are investors optimistic about 2026? Is now still a good time to invest in Nvidia or OpenAI? — This is the third installment of Xiaohu Zhu’s realist story. Disclaimer: This content does not constitute investment advice. Copyright belongs to Language is World Studio. --- 2024年3月、2025年2月，我曾两次更新朱啸虎（金沙江创投主管合伙人）的中国现实主义AIGC故事，现在又过去了快1年时间。 站在2025年的尾巴上，AI产业有泡沫吗？泡沫会破吗？投资人对2026年的预期乐观吗？现在还是投资英伟达、OpenAI的好时候吗？——这里是朱啸虎现实主义故事的第三次连载。 2025年的最后一个月，还想和大家说那句：期待我们和AI共同进步！ 免责声明：本内容不作为投资建议。 版权归语言即世界工作室所有。