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On November 30, 2022, OpenAI launched ChatGPT, a conversational AI model that swiftly revolutionized business and technology. Its popularity surged, even topping Apples free app rankings, and sparked a wave of generative AI products. The impact of ChatGPT extends beyond products, with Karen Hao suggesting OpenAIs power rivals nation-states, reshaping global geopolitics and daily life. The financial markets have seen significant shifts, with Nvidias stock soaring by 979% since ChatGPTs launch, and the seven most valuable companies on the S&P five hundred driving nearly half of the benchmarks 64% increase. This concentration of wealth has led to a more top-heavy market, with the seven companies now accounting for 35% of the S&P five hundreds weighting. Despite the rapid growth, many AI executives, including OpenAIs CEO Sam Altman and board chair Bret Taylor, acknowledge the possibility of a market bubble, drawing parallels to the dot-com boom and predicting AI will ultimately transform the economy and create substantial value.

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