Wall Street’s most powerful collection of stocks, the Magnificent Seven, is looking a tad dated. Make way for the Great Eight. Or maybe the Golden Dozen. Or the TenAI of GenAI.
It has been almost three years since OpenAI’s ChatGPT made artificial intelligence the center of the global economy, and in that time one trade has dominated the US stock market: Buy the Mag Seven. Comprised of Nvidia Corp., Microsoft Corp., Apple Inc., Alphabet Inc., Amazon.com Inc., Meta Platforms Inc. and Tesla Inc., this septet was seen as best positioned to deliver huge returns to investors during the biggest technological shift since the internet.