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Revenge of the Magnificent 7

MacroBusiness

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Date Published
19 June 2025
Priority Score
1
Australian
Yes
Created
22 June 2025, 07:12 pm

Authors (1)

Description

The Market Ear with the charts. AI or die Goldman’s AI winners basket hit a fresh all-time high, while AI-risk names dropped again. Source: GS/Bloomberg The pulse on tech Mag7 names now make up ~15% of US net exposure (up from ~11% in April), but still well below the ~21% peak in mid-2024. The L/S

Summary

The article examines the market performance of AI technology-related stocks, highlighting how Goldman Sachs's AI winners basket has reached a new peak while companies seen as risky due to AI have declined. It underlines the growing significance of major tech companies, referred to as the 'Mag7', within the US market, representing a significant portion of net exposure. The focus on investment performance rather than policy or safety implications limits its contribution to AI safety discourse. There is no direct discussion of existential or catastrophic AI risks or substantial policies aimed at mitigating such threats.

Body

CategoriesAustralian SharesRevenge of the Magnificent 7David Llewellyn-SmithFriday 20 June 2025AdvertisementThe Market Ear with the charts.AI or dieGoldman’s AI winners basket hit a fresh all-time high, while AI-risk names dropped again.Source: GS/BloombergThe full text of this article is available to MacroBusiness subscribers$1 for your first month, then:$24.99 / month$249 / yearCancel at any time through our billing provider, StripeTwitterShareAbout the authorDavid Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.Advertisement