What I Read This Week…
The Magnificent 7 are no longer driving S&P 500 gains, OpenAI is raising another round at a valuation exceeding $100 billion, and PFAS are being detected at high levels on farmlands across the U.S.
Watch All-In E194 Read our Deep Dive on Drug Development Caught My Eye… The S&P 500 index is nearing its record high, with the Magnificent 7 no longer driving its gains. What is going on? Throughout 2023 and early 2024, the S&P 500 was propelled by the AI-fueled rally of the Magnificent 7 stocks, with Nvidia alone accounting for over 30% of the S&P 500's growth in 2024. However, since mid-July, these same companies have become drags on the index. Investors are now wary of the lofty projections driven by investment in AI, despite otherwise strong earnings reports from the Magnificent 7…
related reading
- How The AI Bubble Is Being Masked Within Big Tech | ZeroHedgezerohedge.com
- AI Is Slowing Downwheresyoured.at
- AI populism's safety problemtransformernews.ai
- Musings on Marketsaswathdamodaran.blogspot.com
- Bernie’s bad bet on OpenAIsubstack.com
- We might finally know what will burst the AI bubblesciencefocus.com
- The Calculus of Valueoaktreecapital.com
- A History of the Future, 2025-2027 - by Rudolf Lainenosetgauge.com
- Is OpenAI Already Too Big to Fail?marketingaiinstitute.com
- What I Read This Week…chamath.substack.com
- The AI Hater's Manifestowheresyoured.at
- Cracks in the AI Thesisramp.com