Tech analyst and professor Scott Galloway has issued a stark warning regarding the highly inflated valuations of the Magnificent 10 mega-cap companies, asserting a financial collapse at generative AI leader OpenAI would trigger a systemic shock leaving “nowhere to hide” for investors across the global markets.
Galloway, speaking on his Prof G Markets podcast, characterized the current market reliance on AI as precarious, noting AI has been responsible for 80% of the stock market returns since the launch of ChatGPT in late 2022. Co-host Ed Elson reminded the audience “AI is what is holding the stock market together and also holding the economy together,” with OpenAI at the center of the story.
