AI Drives S&P 500 as Tech Nears Half of Index Market Cap

Cointime reports: The S&P 500’s total market value has risen nearly $32 trillion since OpenAI released ChatGPT, with more than half of the gain coming from just 10 AI-linked companies, as of Nov. 3. About 44% of U.S. pension holdings, or $610 billion, is now tied to the tech sector. A Nov. 6 selloff, driven partly by prospects that newly elected Democrats could slow data-center construction, showed AI now steers broader financial markets.