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AI holy Grail illustration
Silicon Valley is praying that AI tools like ChatGPT can keep customers and investors distracted until the stock market chaos is over and the global economy bounces back.

Arif Qazi / Insider

AI is Silicon Valley's last-ditch attempt to avoid a stock market wipeout

Silicon Valley has entered the Hail Mary phase of its business cycle — a desertic part of a tech-industry downturn where desperation can turn into recklessness.

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Silicon Valley's Hail Mary moment