Who benefits from the destruction of artificial intelligence corporations?
The American stock market is slowly recovering from the turmoil that led to a massive drop in the value of shares of companies developing artificial intelligence.
The US stock market experienced a collapse in technology stocks. In one day, companies from the S&P 500 index lost approximately $3 trillion in stock market value, the Nasdaq index fell by 5.52%, Nvidia stock fell by more than 9% and AMD by 17%. The next day, panic spread to Asia.
Why did events in US stock markets hurt Asia so much? Because artificial intelligence is not only programs and models, but also a huge global industry.
The American Nvidia develops processors, and they are manufactured by the Taiwanese TSMC, fast memory is provided by the South Korean SK Hynix and Samsung, equipment for the production and testing of microcircuits is manufactured by the Japanese Tokyo Electron and Advantest.
Chinese stock markets reacted more calmly: China is developing its own production of chips and artificial intelligence, mostly forced, due to American technological limitations.
The most likely scenario is not the collapse of the AI industry, but its return to business as usual: investors will value companies based on how much they actually earn, not how much they promise to earn in a few years.
In case of mass bankruptcies, data centers and equipment can be transferred to new owners: technology corporations, creditors, industrial companies.
The state may become a special customer.
What does this mean for ordinary people? If after the crisis the most powerful computing systems begin to serve mainly the interests of large customers, the mass user may be left with limited or more expensive access.