Сэм Альтман предупреждает о пузыре ИИ. Лопнут ли ИИ-токены

cryptonews.ruPublished on 2025-10-15Last updated on 2025-10-15

Основатель OpenAI Сэм Альтман предупредил о возможном пузыре в сфере ИИ, который может серьезно повлиять на криптовалюты. Многие ведущие токены ИИ могут быть переоценены из-за общего хайпа

Несмотря на амбиции децентрализованных разработчиков ИИ, рынком правят создатели больших языковых моделей (LLM) и венчурные фонды. Проблемы на высшем уровне могут серьезно отразиться на криптосекторе.

Как крипта и ИИ влияют друг на друга

Сэм Альтман, основатель OpenAI и Worldcoin, играет важную роль как в ИИ-, так и в криптосфере. Однако, несмотря на высокие обещания о возможностях программного обеспечения, оптимистичная картина начала давать трещины. В недавнем интервью Альтман заявил, что ИИ находится в пузыре, и это может иметь серьезные последствия для рынка:

«Когда возникают пузыри, умные люди чрезмерно увлекаются зерном истины. Если вы посмотрите на большинство пузырей в истории, таких как [крах доткомов], там было что-то реальное. Технология была действительно важной, [но] люди слишком увлеклись. Находимся ли мы на этапе, когда инвесторы в целом чрезмерно увлечены ИИ? Мое мнение — да», — сказал Альтман The Verge.

К сожалению, это может иметь серьезные последствия для ИИ-токенов. Рынок сигнализирует, что выстраивание инфраструктуры ИИ чрезвычайно недооценено. Теоретически это бычий сигнал. Однако большинство крупных ИИ-токенов в последнее время показывают слабые или нестабильные результаты.

Ценовая динамика Bittensor (TAO). Источник: CoinGecko

Более детальный анализ крупнейших ИИ-токенов добавляет контекста. Bittensor развивает блокчейн-инфраструктуру и рынок для инструментов машинного обучения, но не LLM. NEAR, который в этом месяце показал обнадеживающие признаки, находится в схожей ситуации. Другие крупные токены оказываются чистыми рекламными уловками.

В целом, нынешний криптосектор следует за компаниями-лидерами в области ИИ, но сам по себе не способен двигать рынок. Когда макроэкономические факторы влияют на крупнейших разработчиков LLM, рынок ИИ-токенов тоже падает.

Читайте также: Как использовать ChatGPT-5 для заработка на криптовалюте: пошаговое руководство

Тревожные данные от разработчиков LLM

Поэтому всем в криптоиндустрии стоит обратить внимание на комментарии Альтмана и другие тревожные сигналы.

Unless you as a user are miraculously comfortable paying $1k for the AI app

The only thing propping up AI is VC funding

No VC funding:
The AI application layer is unprofitable
The LLM layer is unprofitable
The compute layer is unprofitable
The GPu layer is unsustainable

— Zoomer (@zoomyzoomm) August 14, 2025

Эксперты опасаются, что в сфере технологий может возникнуть пузырь, так как только венчурные компании поддерживают ее на плаву. Эта технология очень дорога, и пока неясно, станет ли она доступной для потребителей. Без реального практического применения такие платформы не смогут существовать самостоятельно.

Один показатель особенно интересен. Эд Зитрон, аналитик ИИ, недавно опубликовал документы, описывающие изменения между ChatGPT-5 и 4o. Новая система «маршрутизатора» может потреблять вдвое больше токенов на запрос, чем ChatGPT-4o.

Судя по прохладной реакции сообщества, новая функциональность программного обеспечения, вероятно, не оправдывает таких высоких затрат. Если такие проблемы начнут затрагивать крупнейшие компании в области ИИ, крипторынок окажется особенно уязвимым.

I am an expert on bubbles. So it brings me no joy to say that the AI bubble is popping this time next year.

When you promise infinite scaling and don’t produce it the calculus changes. I don’t think it will be bad for most companies but those who built their entire business…

— bubble boi (@bubblebabyboi) August 7, 2025

Все это говорит о том, что инвесторам стоит быть особенно осторожными. Эта индустрия известна своей волатильностью; многие активы, компании и модели ПО уже потерпели крах. Пузырь в области ИИ может ударить и по ИИ-сегменту в криптоиндустрии.

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