For months, the market bought into the dream that Artificial Intelligence would be an engine of endless growth for the stock market. However, the fear of disruption came just as quickly.

It began to threaten the margins of sectors that seemed untouchable.

Understand what's happening in the United States!

1- The Dream vs. Reality

Until recently, the prevailing thesis was: "AI increases productivity." Obviously, this is true.

However, another truth has been exposed more clearly: "AI steals revenue."

In January, the Software as a Service (SaaS) sector felt the first blow. Today, the targets were Banks, Consulting firms, and Brokerages.

And investors had reason to be alarmed...

2- The Targets and the Reason

The falls of Charles Schwab (-8%), LPL Financial (-9%) and Raymond James (-8%) at the worst moment of the session were not an accident.

The trigger was Hazel AI, from the fintech Altruist.

The tool proved that it can read income tax returns, pay stubs and emails to assemble complex tax planning in minutes and cheaply.

The fear of the "premium" service becoming a commodity came into focus.

3- Capital Rotation (Dow 50k)

Money didn't evaporate, as it does during market crashes; it fled the disruption.

While the so-called "replicable services" bled, the Dow Jones broke its all-time high of 50,000 points.

The flow went to the "old economy" (Industry, Energy, Retail). Where AI can't manufacture the product, money feels safe.

4- The market wants to know: Has processing rules and data become a cheap commodity?

Value is shifting from "information" to interpretation. AI efficiency eliminates mediocrity, but increases the value of those with game vision.