This is what caused the 08' crash. Everything was all tied together so as one massive bank failed it sent a cascading ripple effect through the entire industry which became a sort of black hole that took down many seemingly stable, profitable banks with it.
Of course, but the top ten that make up >30% of the market don't just sell AI. If all of those lost 50% it would be a 15% drop in the index, painful but not jumping-off-building bad
What of most of the rest of the US economy thats keeps trying to shoehorn AI into their workflows and, more importantly, whose stock prices are buoyed by the prospect of theoretical AI-related productivity gains?
This is what caused the 08' crash. Everything was all tied together so as one massive bank failed it sent a cascading ripple effect through the entire industry which became a sort of black hole that took down many seemingly stable, profitable banks with it.
I can easily see the same happening with AI.