Internationalism No. 82, December 2025 Pages 1 and 2 Will the artificial intelligence bubble burst? The question mark adds to the dilemmas that the crisis in the world order is fuelling with debt, rearmament, protectionism, wars, and illusory peace agreements. After many years in which stock markets have weathered persistent headwinds, becoming the emblem of capital’s resilience to its own crises, the accumulated risks are coming to the surface. High technology, the newest sector of listed companies, has become a magnet for investment, producing in just a few years giants with unprecedented market values. The Magnificent Seven in the sector (Alphabet, Meta, Microsoft, Amazon, Apple, Nvidia, Tesla) have a combined market capitalisation of around $22 trillion, about 35% of the total of the 500 largest US corporations. The artificial intelligence (AI) champion Nvidia alone has a market capitalisation of $5 trillion. In November, whe...