During the closing keynote speech at the a16z Runtime conference, a16z co-founders Marc Andreessen and Ben Horowitz, along with moderator Erik Torenberg, engaged in an in-depth discussion on the conference highlights, the capability boundaries of large language models, and the non-bubble nature of AI investment. Marc Andreessen pointed out that AI development is still in its early stages, and its ultimate form remains unclear. Addressing the limitations of large language models, he used human creativity as a reference point, emphasizing that truly groundbreaking innovations are often built upon decades of accumulation, while existing models have already demonstrated powerful capabilities in recombination and optimization. Ben Horowitz illustrated through a case study in the hip-hop music domain that the value of AI as a creative tool lies in expanding the boundaries of human capabilities, rather than completely replacing human creativity. Regarding the AI investment boom, Marc cited semiconductor industry data to contrast that, unlike the 'rapid growth followed by a sharp decline' characteristic of the dot-com bubble, the demand growth rate for generative AI continues to maintain positive momentum, with investment drivers shifting from market sentiment to structural support from underlying computational power demand. Authorities such as Powell also confirmed that this round of AI investment is driven by genuine commercial demand and possesses sustainable potential for economic value creation.