The Internationalism

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...

Internationalism No. 71, January 2025 Page 2 From the series European news Following the European elections which took place on June 6th - 9th, the leaders of the Member States met on June 27th at the European Council. Ursula von der Leyen was nominated as president of the next European Commission, after she was chosen as the European People’s Party’s (EPP) Spitzenkandidat (“leading candidate”). The agreement also included the election of former Portuguese Prime Minister Antonio Costa as president of the European Council, and the appointment of former Estonian Prime Minister Kaja Kallas as High Representative of the Union for Foreign Affairs and Security Policy. Subsequently, on July 18th, Parliament elected von der Leyen as president of the Commission by an absolute majority, with 401 votes out of 719 MEPs. On September 17th, von der Leyen presented her team of commissioners to the European Parliament and, two days later, the Council adopted this list of...