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As for the AI bubble, it is coming up for conversation because it is now having a material effect on the economy at large.

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The Magnificent Seven represent 34.4% of the S&P 500 as of January 2026, up from 12.5% in 2016. From 2016 through 2025, these seven companies achieved an 870.1% return, outperforming the S&P 500. The ...