[riffraff]

but google, meta, microsoft and amazon were making a ton of money even before the AI boom.

OpenAI and Anthropic's can go bust, but ads, windows and cloud hosting would still make a ton of money without them.

[etempleton]

But the stock market is not priced for what is happening. It is priced for what investors think will happen. And investors think companies are going to make a lot of profit in the next 3-5 years from AI. If investors lose confidence it will happen those stocks could see a 20 - 40 percent pull back. The companies will obviously be fine, but the stock will take a beating.