In a recent article published by Corriere della Sera, Stéphane Klecha, Founder and Managing Partner of Klecha & Co., shared his perspective on the recent market reactions linked to artificial intelligence developments.
Commenting on the sharp market movements observed across both U.S. and European exchanges, Stéphane Klecha noted:
“For the first time, these violent stock market movements have occurred not only on Wall Street but also on European exchanges, which are usually less prone to extreme upward or downward swings.”
He further emphasized that the reaction may be excessive:
“These companies will not disappear overnight, not least because many of them have an established and loyal customer base that is not easily disrupted by a startup.”
While sudden market corrections reflect growing investor awareness of AI’s potential impact across industries, they also illustrate the complexity of valuing technological disruption in real time.
At Klecha & Co., we view these developments as part of a broader structural transition. Artificial intelligence is reshaping competitive dynamics, capital allocation and valuation frameworks across sectors. However, short-term volatility should not be mistaken for structural fragility.
Understanding the difference between cyclical market reactions and long-term technological transformation remains essential for investors navigating the AI cycle.