In 2024, both cutting-edge technology and the companies controlling it grew increasingly powerful, provoking euphoric wonderment and existential dread, highlighting the dual-edged nature of advancements.
Companies like Nvidia and Alphabet soared in value, fueled by expectations that artificial intelligence (AI) will become a cornerstone of modern life, indicating the tech sector's pivotal role.
The so-called Magnificent Seven—the stocks of Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla—thrived largely because of the AI boom, propelling the S&P 500 to new highs.
Nvidia's stock nearly tripled in price, showcasing the massive profits generated in AI infrastructure, and raising concerns about over-reliance on a handful of tech companies.
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