The Federal Reserve's warning that investors may anticipate additional interest rate reductions this year has propelled the US share markets to a new high. The tech companies' cash reserves and their confidence in their capacity to monetize artificial intelligence are the foundations of the market's bullishness. AI is predicted to "change the world" by increasing productivity, creating a huge new wealth pie, transforming every sector, impacting every business, and catalyzing every innovation platform. However, the euphoria and sense of inevitability in this narrative make the market nervous. The AI narrative depends on many uncertain assumptions, such as the need for huge amounts of water and energy, which could be raised through carbon pricing or a tax on resource usage. AI developers no longer own content, leading to copyright backlash and increased reliance on tech firms. Magnificent Seven companies drive AI enthusiasm and stock market gains.