Saagar Enjeti

They write that chip stocks have powered the S&P up 16% just across May and April,

matched only four other times since 1950, and the index six months later each time was higher by a median of 17%.

However, skeptics remain with those troubled by the sheer scale of the moves.

For example, Micron Technology, an Idaho-based memory chip maker, has increased roughly tenfold in value over the past 12 months to a market cap of one trillion.

Samsung is up around 465% in South Korea over that period, and a semiconductor index just posted its strongest performance through its first 100 days of any year ever on record.

Even some of the companies involved recall the tech bubble era.

Intel has tripled to 2026 for its first record since 2000.

Cisco and Qualcomm have both surged 50%.

Many on Wall Street are all riding the wave.

And so, look, obviously this is not financial advice or anything like that, but what I do think is that it surges a level of froth and of confidence at the higher levels of the economy.

I'm talking about very, very rich people who on paper are worth extraordinary amounts of money.

in terms of the gains that they've had, but we've also seen the inverse now in consumer confidence.

And I think that's exactly what's putting downward pressure on quality of life.

What's interesting too is to see the existential risk for a political level.

So let's put this one up here and we can talk about this.

The Florida attorney general is now suing OpenAI

seeking to hold Sam Altman personally liable for alleged harms.

The 83-page complaint says that ChatGPT has helped mass shooters in deadly rampages, driven some people to suicide.

The complaint said that the harms are the result of OpenAI's insatiable quest to win the AI arms race and amass large fortunes.

I mean, that's kind of inarguable.