Ruchir Sharma analyzes how the AI boom is reshaping global markets and creating a new economic world order

The AI boom is so powerful in nature that it is overwhelming all other drivers of returns and shaping a new AI-based world order.

Never before has so much market value been concentrated in so few companies, and never before has that concentration been driven by a single technology.

The scale of capital being deployed into AI infrastructure is unprecedented, rivaling the biggest industrial projects in history.

What we are witnessing is not just a technological shift but a fundamental reordering of global economic power.

The risks of an AI bubble are real, but so are the transformative possibilities — the challenge is distinguishing between the two.