MOSCOW, Nov 24 (Reuters) - Russia is not at risk from an

"AI bubble" because its investment so far has not been excessive

but many investors globally may lose money because hardware and

power costs will come down, one of Russia's top AI executive

told Reuters.

"We believe that excessive investments in AI infrastructure

may indeed fail to pay off given the rapid pace of technological

development," said Sberbank First Deputy CEO Alexander

Vedyakhin.

Vedyakhin warned that some global investors may lose money

in "overheated hype" around AI infrastructure spending. However,

he said that Russia must invest up to $580 billion in

modernisation of power generation and grids.