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2/5 What are the AI-Stocks? I use the list that J.P. Morgan's Michael Cemblast made last fall. Here is a table with its details. https://t.co/R13KORGhce 3/5 Note that the list above does NOT include SpaceX (which has Xai, or Grok), Anthropic, and OpenAI. SpaceX's IPO is expected around June 12. So, when will they be included in the S&P 500, allowing AI to account for over 50% of the S&P 500? Last week, S&P proposed changing its rules so that mega-cap IPOs could become eligible for S&P 500 inclusion after six months, rather than the usual one-year seasoning period. The proposal would also relax some standard hurdles for these companies, including minimum public float and profitability requirements. But S&P emphasized that eligibility does not mean automatic inclusion—the Index Committee would still make the final decision. 4/5 On Nov 22, 2022, ChatGPT released a free research preview. This launched the "Generative AI era." That is, ask a question, get an answer. Since this release, AI stocks (blue) have accounted for 70% of the gains in the S&P 500's market capitalization. The "other 459" accounted for 30% of its gain. 5/5 Similarly, on January 12, 2026, Claude Cowork and Moltbook (now OpenClaw) pushed "Agenti AI" into the mainstream. Agenti AI is where AI can "do things for you." Create files (like PowerPoint slides or Excel spreadsheets), update files, and sort information in files on your computer. Since this date, the S&P 500's market capitalization has increased by 8.91% (black line). The 41 AI stocks accounted for 7.61% of this gain, or 85% of the S&P 500's rally has been AI-related since Cowork and OpenClaw burst onto the scene.