Citrini's AI doom report sees software, payment stocks tumble

• Citrini Research’s “Global Intelligence Crisis” report warns AI could trigger massive economic disruption. • AI could eliminate large workforce share, slash consumer spending, threaten $13T mortgage market. • June 2028 scenario predicts S&P 500 down 38%, unemployment >10%, credit unraveling. • Coin coined “Ghost GDP” for AI-generated output not circulating in real economy. • Example: single GPU cluster equals output of 10,000 Manhattan office workers. • Result: massive white‑collar layoffs, recession, and sharp stock sell‑offs in software, payments.

Article Summaries:

• Citrini Research’s “Global Intelligence Crisis” report, which attracted over 22 million views on X, warned that AI could trigger a 2028 recession, massive layoffs, and a 38 % drop in the S&P 500. The report’s “Ghost GDP” scenario-where a single GPU cluster could replace thousands of workers-was blamed for a sharp sell‑off in software and payments stocks. IBM fell 13 %, Microsoft, Oracle, Accenture, Visa, Mastercard and American Express all dropped 3-7 %. Risk experts, including Nassim Taleb, echoed concerns that AI‑driven credit defaults could hit the sector. Tech investors countered that current AI costs still outweigh labor savings.

Sources:

• https://cointelegraph.com/news/citrini-fearful-ai-agent-report-scares-investors?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound