Billionaire Mark Cuban is among the growing number of experts sounding the alarm on an artificial intelligence bubble.

"I’m not a naysayer on AI," Cuban told Steven Bartlett on "The Diary of a CEO" podcast. "I’m the biggest proponent, but you have to be honest about it."

Hyperscalers are taking on so much debt and could soon hit constraints, he argued. He explained that loans for AI companies could get pricier and lead to a doomsday scenario in which companies can’t raise more money.

Still, Cuban praised one of the industry’s most renowned leaders: "I’m a huge fan of Nvidia (NASDAQ:NVDA) and [CEO] Jensen Huang.” But he said the company is subsidizing the industry.

The former “Shark Tank” investor also named Meta Platforms (NASDAQ:META) as a company that is borrowing more than it is making.

"It’s a race," he said.

Cuban on the Positives of AI

Cuban also highlighted the technology’s positives during his interview with Bartlet.

"This dwarfs everything in aggregate," Cuban said. "It’s able to make me a lot more productive."

Cuban said AI can make anyone more productive and can also level the playing field in areas like education, where every library, speech, and book can be available to anyone.

"There’s nothing you can’t learn," he added.

When Bartlett asked whether AI is an opportunity or threat, Cuban struck an optimistic tone: "I see it as an opportunity. Wherever there’s change, there’s an opportunity."

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