The rapid expansion of artificial intelligence is concentrating market power within a few large tech firms and reshaping global stock market hierarchies [1, 2].
This shift creates a systemic dependence on a small group of companies, meaning a tech-led sell-off can now trigger broader instability across international markets [1, 3].
In an analysis published in May 2026, Rolf Bulk, head of semiconductors and infrastructure at the Futurum Group, said the AI rally is accelerating a global market reordering [3]. Bulk spoke with TaiwanPlus reporters Joseph Wu and Lily LaMattina about the ways the current boom is altering the landscape of global finance [1].
The concentration of power is particularly evident in the semiconductor supply chain. This trend has provided a significant boost to the economies of Taiwan and South Korea, as these regions provide the critical infrastructure necessary for AI development [1, 3].
Bulk said the current market structure is being driven by the immense capital and technical requirements of AI. Because only a handful of firms possess the resources to lead this transition, the traditional distribution of market influence is shifting toward these entities [1, 2].
This reordering follows a period of volatility, including a recent tech-led sell-off that highlighted how sensitive the broader market has become to the performance of AI leaders [1, 3]. The reliance on these few firms creates a feedback loop where their growth elevates entire national indices, specifically in East Asia [1, 3].
As AI technologies continue to scale, the gap between these dominant firms and the rest of the market is expected to widen. This trend suggests that the global economic hierarchy is no longer just about company size, but about the control of AI-essential infrastructure [1, 2].
“The AI rally is accelerating a global market reordering.”
The concentration of AI power suggests a transition from a diversified global market to one centered on a few critical bottlenecks. As Taiwan and South Korea become the primary hubs for AI hardware, their economic stability is now inextricably linked to the valuations of a small number of U.S.-based tech giants, increasing the risk of synchronized global downturns if the AI bubble corrects.
