If you’ve felt like the US stock market has been carried on the shoulders of just a few giant companies, you’re not wrong. It’s kind of like watching a relay race where only a handful of runners are sprinting, while the rest are jogging in place. And the question many investors are asking is: how long can this go on?
Read MoreLast week, Alphabet (GOOGL) scored a landmark courtroom victory that will be remembered as one of the defining antitrust rulings of the decade. For months, Wall Street had been bracing for the worst: a forced breakup of Google’s empire. The US Justice Department painted the company as the “monopolist of monopolists”, arguing that its default search contracts, Chrome browser dominance, and Android stranglehold made it impossible for rivals to compete.
Read MoreIt’s no exaggeration to say Nvidia has become an engine of global growth. The company now accounts for 3.6% of global GDP growth, a larger footprint than the entire stock markets of the UK, France, or Germany. That kind of dominance means every earnings report isn’t just about one company – it’s a pulse check on the entire AI industry, and by extension, the broader market. The latest results once again showed breathtaking growth, but also a few warning signs.
Read MoreEvery market boom has its poster children — the flashy, overhyped, overvalued companies that define the mania on the way up, only to crash under the weight of their own expectations. Think Pets.com in the Dot-Com era or meme stocks during the pandemic. So, the natural question is: Is the same thing happening with AI today?
Read MoreIn a first-of-its-kind move, the Trump administration struck a tech deal with Nvidia and AMD: keep selling “China-legal” AI chips into the mainland, but hand over 15% of that revenue to the US government. This is not a tariff – it’s tolls for access.
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