Microsoft CEO Satya Nadella acknowledged the company's mistake in underestimating the importance of web search. He highlighted how Google's foresight and execution allowed it to build a significant business,

Long story short, an enormous amount of capital is rapidly being spent on AI data centers and the necessary equipment to train and run powerful AI models, particularly graphics processing units (GPUs) from Nvidia (NASDAQ: NVDA).

Fears of an artificial superintelligence that could replace humans are just a distraction at a time when ChatGPT still has major shortcomings.