S&P 500 index could be flat without AI demand, Emmet Peppers points out

S&P 500 index could be flat without AI demand, Emmet Peppers points out
AI-linked firms influence S&P 500 gains

Emmet Peppers suggests that the performance of the S&P 500 index in 2026 year-to-date is heavily reliant on AI-related companies.

Peppers comments that without the demand and use from artificial intelligence, the S&P 500 could be flat or even down during this period.

Peppers previously argued that AI valuations may face a ceiling unless artificial intelligence drives real-world impact in sectors like labor and robotics, according to an earlier interview (link). He also pointed to the upcoming Anthropic IPO as a possible event that could prompt a reassessment of digital AI valuations (link). Peppers has said these trends could bring added volatility to technology stocks.

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