Justin Fox, Columnist

AI (Probably) Won’t Kill All the Stonks

Google is solidifying its case for spending money to make money.

February 5, 2026 at 8:44 PM UTC

Justin Fox is a Bloomberg Opinion columnist covering business, economics and other topics involving charts. A former editorial director of the Harvard Business Review, he is author of “The Myth of the Rational Market.”

Why so chaotic?
Photographer: Michael Nagle/Bloomberg

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The rise of generative artificial intelligence looks to be a significant economic development, one that investors have reason to be excited about. So, uh, why have markets been tanking this week? There seem to be two main explanations: