> For AI2027 to be real, the money has to come from somewhere to carry on building the economy. If >10% of the workers suddenly become unemployed, and the rest taking paycuts, then money supply dries up. (unless central banks do something, but then that can be highly inflationary)
The reason for divergence is actually much simpler. NASDAQ 100 includes data center builders, Morgan Stanley software index doesn't. Stock market is going down across the board if you exclude data center construction.
Why would it be inflationary?