Hedge fund manager David Einhorn warned that even if artificial intelligence (AI) technology itself is transformative, unprecedented spending on AI infrastructure could destroy significant capital. The Greenlight Capital founder said the trillions of dollars being invested by companies like Apple, Meta Platforms Inc., and OpenAI are excessive, and the ultimate returns are highly uncertain. While he expects AI to ultimately exceed current optimistic expectations, he questions whether "investing $1 trillion or $500 billion a year" will yield good returns for the companies making these investments.