BREAKING: The "AI Big 10" now accounts for a record 42% of US stock market cap. This includes Magnificent 7 stocks as well as Broadcom, $AVGO, AMD, $AMD, and Micron, $MU. This figure has more than doubled since the 2022 bear market low. By comparison, during the 2000 Dot-Com Bubble, the Technology, Media & Telecom (TMT) sector peaked at 41%, while the Nifty Fifty peaked at 40% in the 1970s. Furthermore, Japan’s equity market bubble in the 1980s peaked at 44%. In the past, only railroad stocks have significantly exceeded this concentration, accounting for 63% of US market cap at their highest point in the 1900s. The dominance of Big Tech is extraordinary.

📺WATCH Episode 10 now, the newest HSI Top 5! Our HSI special agents and their partners in Texas, Colorado, New Hampshire and California help secure major prison sentences in a deadly human smuggling case and for a middle school teacher convicted of 50+ counts of child exploitation. They also bring back a man from Canada to face charges of attempting to sex traffic a minor, arrest four people trying to meet minors for online for sex, and arrest 15 with weapons in a meth organization take down.

BREAKING: The top 10 US stocks now account for 43% of the S&P 500’s market cap, near the highest on record. This percentage has been at or above 40% for the last 12 months. Over the last 10 years, the top 10's weighting in the S&P 500 has more than DOUBLED. At the same time, the proportion of the 250 smallest companies has halved, to ~7%, the lowest since at least 2014. To put this differently, the top 10 now account for more than 6 times the market cap of the smallest 250 firms in the S&P 500 index. A handful of stocks continue to effectively drive the entire market.

Earnings growth is beginning to justify market concentration. The top 10 US stocks now account for 40% of the S&P 500’s market cap, near their highest proportion on record. Meanwhile, earnings generated by the top 10 now represent a record 38% of the S&P 500’s total earnings. This percentage has DOUBLED since the 2022 bear market. By comparison, this proportion stood at ~30% in November 2025, while the top 10 still represented ~40% of the S&P 500’s market cap. To put this into perspective, at the 2000 Dot-Com Bubble peak, the top 10 accounted for just ~15% of the S&P 500’s total profits while accounting for ~27% of its market cap. A handful of stocks are now driving both the market and its earnings.

🚨 The gap between the rich and poor is widening globally. The top 10% now own 75% of all global wealth and the bottom 50% own just 2%. In the US the gap is even wider, the richest 10% own 70% of the country's wealth. The IMF warns AI could even widen this gap further.

End of February right before the war started: Inflation 2.4% 10 year Treasury 3.9% Mortgage Rates 6% Oil $67 Gas $3.10 Now: Inflation 3.4% 10 year Treasury 5.2% Mortgage Rates 7.6% Oil $90 Gas $4.43

it's genuinely funny that some people think we've already 'pumped' what we've seen over the past few weeks is NOTHING compared to what's coming Q4 is going to be the most face-melting quarter this industry has seen in years the kind of rally that makes you question why you ever doubted crypto imagine 10/10 now imagine the exact opposite for bears reverse 10/10 that's Q4 and when it starts, it's going to move MUCH faster than most people expect being underpositioned when the real move begins is going to hurt A LOT you've been warned