The AI Economy's Fragile Facade Last week's stock market turmoil has left investors scrambling to make sense of the opaque and complex world of artificial intelligence (AI).
The rollercoaster ride was sparked by a double whammy: China's memory chipmaker CXMT floated on the Shanghai stock market, soaring 466% in value, while reports emerged that China had developed its own tools for deep ultraviolet lithography, a technique crucial to the computer chip supply chain.
As investors reeled from the news, AI linked shares plummeted worldwide. The reliance of the AI economy on Nvidia has become so egregious that it's starting to resemble a house of cards.