There’s been a lot of talk of an AI bubble lately, especially regarding circular funding involving companies like OpenAI and Anthropic—but Clem Delangue, CEO of machine-learning resources hub Hugging Face, has made the case that the bubble is specific to large language models, which is just one application of AI.

“I think we’re in an LLM bubble, and I think the LLM bubble might be bursting next year,” he said at an Axios event this week, as quoted in a TechCrunch article. “But ‘LLM’ is just a subset of AI when it comes to applying AI to biology, chemistry, image, audio, [and] video. I think we’re at the beginning of it, and we’ll see much more in the next few years.”

At Ars, we’ve written at length in recent days about the fears around AI investment. But to Delangue’s point, almost all of those discussions are about companies whose chief product is large language models, or the data centers meant to drive those—specifically, those focused on general-purpose chatbots that are meant to be everything for everybody.

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