250

A stock market boom in artificial intelligence companies has added more than half a trillion dollars to the wealth of America’s tech barons in the past year, data shows.

The top 10 US founders and bosses of some of the world’s largest technology companies saw their finances swell to nearly $2.5tn, up from $1.9tn, in the year to Christmas Eve, according to figures from Bloomberg.

Elon Musk, already the world’s richest man, has again proved to be one of biggest winners as the AI gold-rush has pushed US stock markets to record highs.

Musk’s net worth increased by nearly 50% year-on-year to $645bn. The tycoon, whose business interests include xAI, an artificial intelligence company, became the first person to have a net-worth of more than $500bn in October this year. He could become the world’s first trillionaire if he hits targets set by Tesla, the electric car company he runs.

Musk sits ahead of Google co-founder Larry Page and Amazon founder Jeff Bezos in the overall rankings of the world’s wealthiest billionaires. Page is estimated to be worth $270bn, and Bezos $255bn.

you are viewing a single comment's thread
view the rest of the comments
[-] CandyPants@lemmy.ml 20 points 2 months ago

Yeah on paper. I can't tell you anyone that I know who is paying for AI. The company I work for does have a Chatgpt subscirption. So i guess thats one.

My point is that we keep hearing about the AI spending, but im not noticing anyone who is paying or even enthusiastic about AI. Its a corporate buzzword and C suites dont understand it yet.

Yet it accounts for 60-70 percent of the growth in the US markets. Does anyone want to take a guess at how this AI boom is gonna end?

This is the most predictable house of cards ever.

[-] Sir_Kevin@lemmy.dbzer0.com 3 points 2 months ago* (last edited 2 months ago)

That's because your (data is) the product.

[-] CandyPants@lemmy.ml 5 points 2 months ago* (last edited 2 months ago)

Thats been the game for years. I don't think thats enough to offset the cost of electricity. I think their goal was to sell AI to business to replace workers. The problem is that it cant YET.

Eventually it will get good enough to replace some entry level folks, but this whole thing is one great big fucking swindle. When it does start to unravel everyone is going look back and see how obvious it was in hindsight.

[-] Sir_Kevin@lemmy.dbzer0.com 5 points 2 months ago

You're right that it can't reliably replace workers yet, but that's not stopping companies from doing it anyway. For example, try to reach a human customer service rep at any large company.

[-] Tollana1234567@lemmy.today 2 points 2 months ago

they are trying to make business hop on it, so they are left holding the bag, in the end we will probably see even more layoffs than now.

this post was submitted on 26 Dec 2025
250 points (97.3% liked)

News

36118 readers
3189 users here now

Welcome to the News community!

Rules:

1. Be civil


Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban. Do not respond to rule-breaking content; report it and move on.


2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.


Obvious biased sources will be removed at the mods’ discretion. Supporting links can be added in comments or posted separately but not to the post body. Sources may be checked for reliability using Wikipedia, MBFC, AdFontes, GroundNews, etc.


3. No bots, spam or self-promotion.


Only approved bots, which follow the guidelines for bots set by the instance, are allowed.


4. Post titles should be the same as the article used as source. Clickbait titles may be removed.


Posts which titles don’t match the source may be removed. If the site changed their headline, we may ask you to update the post title. Clickbait titles use hyperbolic language and do not accurately describe the article content. When necessary, post titles may be edited, clearly marked with [brackets], but may never be used to editorialize or comment on the content.


5. Only recent news is allowed.


Posts must be news from the most recent 30 days.


6. All posts must be news articles.


No opinion pieces, Listicles, editorials, videos, blogs, press releases, or celebrity gossip will be allowed. All posts will be judged on a case-by-case basis. Mods may use discretion to pre-approve videos or press releases from highly credible sources that provide unique, newsworthy content not available or possible in another format.


7. No duplicate posts.


If an article has already been posted, it will be removed. Different articles reporting on the same subject are permitted. If the post that matches your post is very old, we refer you to rule 5.


8. Misinformation is prohibited.


Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.


9. No link shorteners or news aggregators.


All posts must link to original article sources. You may include archival links in the post description. News aggregators such as Yahoo, Google, Hacker News, etc. should be avoided in favor of the original source link. Newswire services such as AP, Reuters, or AFP, are frequently republished and may be shared from other credible sources.


10. Don't copy entire article in your post body


For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.

founded 2 years ago
MODERATORS