The impacts of artificial intelligence and the digital economy on capital accumulation

The financialization of tech giants triggers a new era in the system of financial oligarchy with the addition of digital capital to banking and industrial capital, while artificial intelligence applications have fundamentally transformed economic foundations and energy demand over the past twenty-five years.

Financial Oligarchy and Digital Capital

The financialization of tech giants corresponds to a new phase in the order of financial oligarchy. A third accumulation of capital through the digital economy has been added to the structure formed by the concentration of banking and industrial capital.

It is now necessary to speak of a much more advanced financial oligarchy structure consisting of the concentration of banking capital, industrial capital, and digital capital revenues.

Wealth Growth and Capital Accumulation

Artificial intelligence applications have become indispensable parts of daily life within the past year. The foundations of global capitalist accumulation and expansion have recorded a massive surge over the past twenty-five years.

During this process, for the first time in the world, an individual's personal wealth exceeded one trillion dollars, and the market value of the tech company NVIDIA reached 5.2 trillion dollars.

Energy Consumption and Data Centers

Artificial intelligence farms, small modular reactors, and high electricity consumption have introduced the concept of energized land as a new asset class.

According to S&P Global data, it is projected that artificial intelligence companies will need an additional eighty-five gigawatts of power by 2030.