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Tech stocks set to wipe out more than $1 trillion as concerns deepen about the AI boom
(www.nbcnews.com)
this post was submitted on 30 Oct 2026
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More to the point is the magnitude. Note that Ford ultimately didn't get a bailout, but between GM and financial sector they did about $500 billion, which adjusted for inflation would be about $800 billion. That's not enough to even cover OpenAI's obligations by itself, let alone the broader AI industry. GM's bailout was $50 billion.
Thanks for correcting and adding to my statement on how severe this whole thing is, I have it in my head but I'm a bit shit at elaboration. Also I knew it was one of the big three but I couldn't remember if it was Ford or GM.