Legendary investor Jeremy Grantham says AI is the only thing that's prevented a recession and a market crash
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3 Articles
Legendary investor Jeremy Grantham says AI is the only thing that's prevented a recession and a market crash
Bloomberg/Getty ImagesWere it not for AI, the US would have entered a recession sometime in 2023, Jeremy Grantham says.The GMO founder said a "mild" downturn and a 25% market crash were averted due to AI capex. Recently, Grantham suggested the spike in oil prices could be a trigger for a recession.The US economy would have tumbled down a difficult path were it not for AI, Jeremy Grantham says.The GMO founder and investing legend issued a cautiou…
If it weren't for artificial intelligence, the United States would have entered recession as early as 2023, according to legendary investor Jeremy Grantham. The GMO founder claims that a "mild" economic decline and a 25% stock market crash were averted thanks to investment spending on AI. Grantham also recently suggested that rising oil prices could trigger a recession.
Jeremy Grantham believes the U.S. economy is overly reliant on AI, and argues that without massive capital investment, a recession would have occurred in 2023.
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