The relentless surge in artificial intelligence valuations is sparking growing concern within the tech sector, with Meredith Whittaker, CEO of encrypted messaging app Signal, openly branding the current fervor as a “hype” exceeding practical reality. In an interview with Der Spiegel, Whittaker characterized the prevailing industry ethos as “more show than substance” stopping short of dismissing the advancements altogether, but strongly suggesting the market is experiencing a bubble-like situation.
Whittaker, also co-founder of the “AI Now” Institute at New York University, which focuses on the ethical and social implications of AI, pointed to what she described as “circular investments” inflating valuations. The anticipated $100 billion Nvidia investment in ChatGPT developer OpenAI, for instance, constitutes a transaction where OpenAI will subsequently purchase Nvidia chips – a scenario she compared, with significant gravity, to the dynamics of the dot-com bubble.
The Signal CEO’s critique extends beyond mere valuation concerns. She issued a stark warning regarding the burgeoning trend toward “AI agents” designed to automate increasingly complex tasks. Whittaker believes these nascent systems represent an “existential threat” to both cybersecurity and individual privacy. The requirement for these agents to access vast quantities of personal data and integrate with a wide range of applications, she argued, is “extremely unsettling.
Her apprehension is rooted in the increased vulnerability to hacking that these systems create. The proliferation of AI agents, Whittaker warned, significantly expands the attack surface for malicious actors, potentially undermining the robust security Signal has historically maintained. Ultimately, she anticipates a point where maintaining app-level security on Signal becomes untenable due to the pervasive influence of AI agents and the risk they engender. Signal, she confirmed, has no plans to develop its own AI.