On November 30, 2022, the world changed. Since the launch of ChatGPT, the S&P 500 has added $24 trillion in market value.
That's an average of $22 billion created PER DAY for 3 consecutive years.
The market has been transformed since then. Understand it in detail!
2️⃣ The Index Explosion
Since that day in 2022:
• S&P 500: +77% (rose from ~3,950 to almost 6,850 points).
• Nasdaq 100: +119% (driven by the technology sector).
Basically, the American market created the equivalent of almost an entire US economy in equity value in just 36 months.
3️⃣ The Big Winners (It wasn't democratic)
The rally was concentrated in AI infrastructure.
The return since the launch of ChatGPT:
• Nvidia (NVDA): +1,004% 🚀
• Broadcom (AVGO): +660%
• Meta (META): +481%
• Google (GOOGL): +230%
While Tech (XLK) and Communication (XLC) doubled in size, 9 of the 11 sectors of the American economy lagged behind.
4️⃣ From US$6 billion to US$57 billion: Nvidia's "Real Proof"
For those who say it's just a fad, Nvidia's revenue numbers prove otherwise.
Look at the quarterly evolution:
• Q3 2022 (Pre-ChatGPT): US$5.9 Billion
• Q3 2025 (Today): US$57 Billion
The company multiplied its revenue by 10x in 3 years.
5️⃣ The "World's Most Terrifying Comparison"
📈 Stock Market (S&P 500): +70%
📉 Employment (JOLTS): -30%
Job vacancies peaked at 11.5 million in March 2022, the highest level since JOLTS began in 2000.
By August 2025, that number had fallen to 7.18 million.
The narrative: "AI is enriching investors while stealing middle-class jobs."
But the data shows otherwise.
6️⃣ Economists point to the real culprit for the drop in job openings: the Fed.
Job openings peaked in March 2022 (the beginning of the interest rate hike cycle), months before ChatGPT was born.
Monetary tightening to combat inflation cooled the pace of hiring.
The impact of AI is still uncertain.
7️⃣ The Tale of Two Economies
What we have today is a clear bifurcation:
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The "AI Economy": Explosive growth, high margins, trillion-dollar Capex (Nvidia, Microsoft).
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The "Remaining Economy": Suffering from high capital costs and slowdown.
30 AI-related companies now represent 44% of the total value of the S&P 500.
8️⃣ The Yellow Flag for Young People
Although AI isn't the macro-level cause of unemployment today, there is a worrying micro-level effect.
Stanford studies show that recent graduates (22-25 years old) in fields exposed to AI experienced a 13% drop in hiring.
AI isn't firing seniors yet, but it is closing the door for juniors.
🔟 Summary of the Opera (3 Years Later)
ChatGPT inaugurated the biggest digital gold rush in history. The market priced in a future where productivity explodes and profits are concentrated.
So far, the investor has overwhelmingly outperformed the worker.
The AI "bubble" sustained the economy while the rest of the market dealt with the hangover from interest rates.