Can the "bubble" pop/deflate in a way that just takes out OpenAI? I don't see Google overextended at all.

OpenAI might actually survive, even if investors lose significant part of their investment. It those those companies that took out loans to invest in "AI" or took overpriced shares as a payment that are getting wiped out.

The bubble will burst and I think it might take the S&P 500 down with it simply because of how damn concentrated it is.

The effects would be devastating to say the least in how I feel like it.

If S&P 500 grew thanks to this AI bubble, it sure as well will shrink as well due to the popping of this bubble too.

There is no free lunch but more precisely I am worried more about the retirement schemes in which people put their money into etc.

Personally I was saying this thing a long time ago that AI feels like a bubble and maybe S&P 500 would have some issues and thus to diversify into international or gold etc. and I was met with criticism because "S&P 500 is growing the fastest so I am wasting money investing in gold etc.", Yea because that's because bubbles can also grow... and they also shrink... and they do both of these things fast.