News Summary

• ChatGPT has transformed the worlds of business and tech.
• The most obvious winner so far has been Nvidia, with its stock up 979% since the chatbot launched.
• AI fever has also buoyed other Big Tech companies, with the seven most valuable companies on the S&P 500 all tied to tech.
• With the notable exception of Nvidia CEO Jensen Huang, it’s become increasingly common for AI executives to acknowledge that we might be in a bubble (or if you prefer, a “mania”).