“Yet according to recent estimates, generative AI now accounts for roughly 40 percent of the United States’ gross domestic product. In other words, if the AI spending boom falls apart, it could take down the entire economy with it. Fund manager and former Morgan Stanley investor Ruchir Sharma warned in a recent piece for the Financial Times that the US economy has turned into “one big bet on AI.” “AI companies have accounted for 80 per cent of the gains in US stocks so far in 2025,” he wrote. “That is helping to fund and drive US growth, as the AI-driven stock market draws in money from all over the world, and feeds a boom in consumer spending by the rich.””