"At a certain point, figures this large become uncomfortably meaningless. A million dollars is a lot of money. A billion dollars is a heck of a lot-so much that if you had it, you'd be a billionaire. Now try to imagine how rich you would be if you were pulling in $8 billion every month for the next 10 years, as Musk is effectively about to do. It's impossible."
"The S&P 500 has doubled since October 2022, which is impressive on its own, but the combined market cap of the Magnificent Seven -Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla-has more than quadrupled. These firms are all heavily invested in generative AI, a technology based on training computers to make connections among quantities of data that are completely beyond human understanding. Large numbers are generating large numbers."
"Records are being broken before they've had time to sink in. Nvidia's $5 trillion valuation last month surpassed the first-ever $4 trillion valuation, which was also achieved by Nvidia, in July. The planet didn't even have a single trillion-dollar company until Apple hit that milestone in 2018. This was considered a big deal at the time. Now the equivalent of the most valuable corporation in history circa 2018 can be generated in three months."
Nvidia reached a $5 trillion market valuation, becoming the most valuable company in history. Tesla shareholders-approved pay could total about $1 trillion over a decade, effectively yielding enormous monthly income for its CEO. The S&P 500 doubled since October 2022 while the combined market capitalization of Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla more than quadrupled. These firms are heavily invested in generative AI, which trains systems to detect patterns across data volumes beyond human comprehension. Corporate valuations and compensation figures are growing so large that they become difficult to grasp and records are breaking rapidly.
Read at The Atlantic
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