JPMorgan Chase & Co. analysts revealed that 30 artificial intelligence-linked stocks generated approximately $5 trillion in wealth gains for US households over the past year, with these companies now representing about 44% of the S&P 500’s total market value.
• The wealth surge is driven by technology giants including Nvidia , Microsoft , Apple , Amazon , Alphabet, and Meta Platforms, with nearly half operating in semiconductor and hardware sectors.
• The $5 trillion wealth increase translates into an estimated $180 billion boost to annual consumer spending, equivalent to 0.9% of total consumption, according to economists Abiel Reinhart and Michael Feroli.
• JPMorgan’s research indicates that AI-related capital expenditures contributed 1.1% to US GDP growth in the first half of 2025, with AI stocks responsible for 80% of earnings growth and 90% of capital spending growth since November 2022.
• Analysts warn that a 10% decline in AI stock values would eliminate $2.7 trillion in household wealth and reduce consumption by approximately $95 billion, raising concerns about market concentration and potential bubble risks.