Market News / Story
From railroads to AI, the new Gilded Age of concentration
Seeking Alpha ·
Seeking Alpha reports: Artificial intelligence has reclaimed a share of the U.S. equity market last seen in the railroad era, with one theme again on the verge of commanding more than half of the S&P 500 ( SP500 ). A JPMorgan basket of 41 AI-related companies already represents 49% of the index’s market capitalization. Those same names have accounted for roughly two-thirds of the S&P 500’s year-to-date change in market value, meaning the benchmark’s advance has been driven by a narrow group…