Bank of America data shows:


Currently, the financial assets in the United States (Wall Street) relative to GDP (the real economy) have reached 6.5 times, hitting a record high. We are in an era of high financialization.
Figure 2 shows that since the launch of ChatGPT, for every $1 increase in the S&P 500 index, 70 cents are driven by 41 AI stocks.
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