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Timeline of artificial intelligence risks in global finance

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The following article is a broad timeline of the course of events related to artificial intelligence risks in global finance.

The AI boom has led to concerns including the existential risk from artificial intelligence, as the uptake on applications of artificial intelligence increases. By late 2025, global finance and artificial intelligence were "deeply intertwined".[1]

2017

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  • 30 November—The New York Times said that new AI reports by McKinsey & Company, the National Bureau of Economic Research, and an AI Index created by university researchers, indicated an AI boom.[2] The Index built on a project—"The One Hundred Year Study on Artificial Intelligence" launched in 2014.[3]

2018

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  • —2018 was a year of incremental AI growth in finance.[4]

2022

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  • —The release of ChatGPT by OpenAI became the catalyst for the most recent phase of the AI boom.[5]
  • — According to a European Central Bank report, public interest in AI increased rapidly as evidenced with rising Google searches, AI jobs, models, patents, and innovations since late 2022. At that time Europe led the US in the size of its AI workforce.[6]

2023

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  • The regulatory body, the International Monetary Fund (IMF), published their report, "Generative Artificial Intelligence in Finance: Risk Considerations", drawing attention to oversight gaps and the need for regulations.[7] The report explores the risks posed by using generative artificial intelligence (GenAI) systems in the financial sector including "broader risks to financial stability."[7]: 5 

2024

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  • January 12 —In January 2024 Bloomberg's published its list of the "Magnificent Seven" Big Tech companies on the stock market based on their strength, size and market capitalization—Apple, Microsoft, Alphabet (Google), Amazon, Meta Platforms (Facebook), Nvidia, and Tesla.[8]
  • 21 June —During the AI boom, Nvidia became the world's most valuable company, surpassing Microsoft, as its value increased to over US$4 trillion.[9][10]
  • — In 2023 and 2024, the "Magnificent Seven" stocks were the primary drivers behind the increase in equity indexes, according to Reuters.[11]

2025

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January

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  • 23 January —President Donald Trump's AI policy was announced ensuring that the United States would achieve global leadership in artificial intelligence.[12] The Economist noted that this politic shift in which the United States seeks "global dominance" in AI includes trimming regulations and assisting in the provision of infrastructure and workers. Governments of Gulf nations are also investing trillions of dollars in AI.[13]
  • 27 January —Against the backdrop of a tech war between China and the United States over AI dominance, within days of the launch of China's free DeepSeek App, it was the most downloaded app in the United States,[14] rising to the first place in the Apple app store.[15] President Trump responded immediately, saying this "sudden rise" should be a "wake-up" call to the United States, and called on US companies to be more competitive.[15]

September

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  • 7 September —The Economist cautioned that AI revenues are relatively modest compared to the high cost and investments in the creation of new data centers.[13] Even Sam Altman—OpenAI CEO and one of the leading figures of the AI boom,[16]—raised concerns about investors' outsized hopes for financial returns. At the same time, history has shown that new technologies, like railways and electricity, endured and spread after the initial hype faded.[13]
  • 12 September 2025 —<no wiki>Economists warn that U.S. households' direct and indirect investments—mutual funds or retirement plans—in the stock market reached an unprecedented historically high level, now representing 45% of all financial assets, or about $USD51.2 trillion.[17] Compared to the Dot-com bubble this represents a sharp increase in exposure. This makes U.S. households vulnerable to market downturns which in turn would result in decreasing consumer spending.<no wiki/> U.S. household net worth rose to a record $176.3 trillion in the second quarter, an increase of $7.3 trillion since early 2025 and about $46 trillion higher than before the pandemic. Federal Reserve data attribute the surge primarily to gains in stock markets and housing values. However, the rise in wealth on paper coincided with increased household borrowing and growing government debt.[18]
  • 28 September 2025 —

October

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  • 3 October 2025 —In 2025 alone, venture capitalists invested almost $USD200 billion in the artificial intelligence sector.[19]
  • 29 October —Nvidia was the first company in the world to be valued at US$5 trillion.[20]

November

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  • 2 November —Forbes reported that, since April, the 'Magnificent Seven' tech giants together contributed over 40% of the S&P 500's return, highlighting their outsized influence and the growing impact of AI on market valuations.[21] CNN warned that while there is a current benefit to investors, with such a high concentration in the S&P 500, they are highly exposed to the fate of the Mag Seven.[17]
  • 5 November —Concerns about the potential for a market bubble were raised as six of the AI-related Big Tech "Magnificent Seven"—that contribute to the AI boom—reported losing ground in the stock market.[1] Global markets and artificial intelligence have become "deeply intertwined", according to a Reuters report.[1]
  • 5 November —As of November 2025, more than 50% of the 20 largest S&P firms are deeply exposed to AI. In contrast, in 2000, the 20 S&P 500 firms represented 39% of its total value only 11 of these companies were exposed to the internet. If AI fails to deliver strong returns on their investments, these top S&P firms would be significantly impacted, according to the Economist.[22]
  • 11 November —By late fall 2025, these large AI-related tech companies had begun using loans and financial instruments—special purpose vehicles (S.P.V.), asset-backed securities (A.B.S.)—to obtain the capital they need to invest in their new data centers.[23]

See also

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Footnotes

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  1. ^ a b c Culp 2025.
  2. ^ Lohr 2017.
  3. ^ Stanford University 2016.
  4. ^ Statt 2018.
  5. ^ Biino 2024.
  6. ^ Leitner et al. 2024.
  7. ^ a b Ghiath Shabsigh 2023.
  8. ^ Bloomberg 2024.
  9. ^ Hart 2024.
  10. ^ Duffy 2024.
  11. ^ Krauskopf 2025.
  12. ^ The White House 2025.
  13. ^ a b c The Economist 2025.
  14. ^ Hoskins & Edwards 2025.
  15. ^ a b Ingram 2025.
  16. ^ Weil 2023.
  17. ^ a b Towfighi 2025.
  18. ^ Spirlet 2025.
  19. ^ Chapman 2025.
  20. ^ Berkowitz 2025.
  21. ^ Stone 2025.
  22. ^ The Economist 2025a.
  23. ^ Frisch 2025.

References

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B Berkowitz, Ben (29 October 2025). "Nvidia becomes the world's first $5 trillion company". Axios. Retrieved 5 November 2025.

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