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Welcome back to the Times Tech podcast with me, Danny Fortson, in the valley, a very shaken Silicon Valley.

And me, Katie Prescott, in the city, the city of London, where I'm feeling quite smug,

Danny, actually, because not one, but two of my predictions in our New Year pod have come off.

I'm talking about the AI advances in China and also changes in chips and it's only the end of January.

As we record this pod, the sense of untouchability, if that's a word, that seem to imbue the tech giants, the magnificent seven,

driving the US stock market ever upwards.

It seems to be unraveling.

Yeah.

So it was just over two years ago when ChatGPT was launched by OpenAI.

And in that time, the company has grown to be worth $157 billion and rising.

And with it, other giants have emerged in the AI space or just, well, just it seems

got even bigger.

And there isn't even a good acronym to sun them all up in these days.

...