Since the release of ChatGPT in 2022, the value of America’s stockmarket has risen by $21trn. Just ten firms—including Amazon, Broadcom, Meta and Nvidia—account for 55% of the rise. All are riding high on enthusiasm for artificial intelligence, and they are not the only ones. In the first half of the year an IT investment boom accounted for all America’s GDP growth; in the year to date a third of the West’s venture-capital dollars have gone to AI firms.
in Finance
