Passive investing turned everyone into a tech investor without anyone asking permission. That’s the uncomfortable reality your pension statement won’t spell out. Concentration risk isn’t theoretical — it’s sitting inside the funds you forgot you owned, quietly indexed to the same seven companies the ECB just flagged as the core of a potential AI Infrastructure financial stability problem.
Actual ECB post
https://www.ecb.europa.eu/press/blog/date/2026/html/ecb.blog20260817~754a8a4418.cs.html
Considering the article is
AI-generatedAI-refined, “ensuring that every article is engaging, clear and succinct,” I think the original source or a better outlet would be preferableInteresting that Chart 1 a only shows data up to 2023, while data up to 2026 shows an even closer resemblance to the dot-com bubble and 2008 financial crisis; in terms of steepness of the growth. So the more linear growth seen since the 2008 financial crisis, really should be attributed to other (more legitimate) forces in the market; while this article should’ve really focused on the growth since 2022 (which it just barely does).