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PhonePe co-founder and CEO Sameer Nigam
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Moneycontrol•26-09-2026, 13:14
PhonePe CEO: AI Valuations Overstated, Not AI Itself
  • •PhonePe CEO Sameer Nigam states AI valuations are "definitely overstated" despite AI itself not being overhyped, predicting a market correction.
  • •Nigam foresees the next wave of AI users engaging through voice-based AI agents in vernacular languages.
  • •PhonePe aims for "100x growth in financial services," focusing on transparent, low-cost digital insurance and a sustainable lending business.
  • •Nigam believes India's payments market has significant growth potential, with 500 million users yet to join the network.
  • •He describes the startup valuation reset as cyclical, linked to capital moving towards the US market, and emphasizes the need for sustainable net profitability.
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Key Questions Answered

PhonePe co-founder and CEO Sameer Nigam stated that while artificial intelligence itself is not overhyped, the valuations of companies operating in the AI space are definitely overstated in private markets and could undergo a correction.

PhonePe is aiming for 100x growth in financial services, with a strong focus on building a transparent, low-cost digital insurance platform and scaling its lending operations sustainably.

Sameer Nigam noted that the valuation reset among startups is cyclical and that recently listed companies have seen multiple compressions due to capital moving toward the US and New York markets.

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