Quick Read
- Citrini Research’s “The 2028 Global Intelligence Crisis” report went viral on Monday, February 23, 2026.
- The report’s release caused significant stock drops in tech firms like IBM (13%), Datadog, CrowdStrike, and Zscaler (over 9%).
- Financial firms American Express, KKR, and Blackstone also saw declines.
- DoorDash shares fell 6.6% after the report cited it as an example of AI disruption.
- The report hypothesizes a future where AI devalues human intelligence, leading to economic crisis and high unemployment by 2028.
NEW YORK (Azat TV) – Global financial markets experienced a notable downturn on Monday following the viral spread of a new report, “The 2028 Global Intelligence Crisis,” published by Citrini Research. The document, which paints an apocalyptic vision of artificial intelligence’s impact on human intelligence and white-collar work, triggered significant stock price drops across major technology and financial firms, highlighting investor sensitivity to the potential economic disruption posed by advanced AI.
The report, released Sunday, quickly gained traction, causing shares in several prominent companies to tumble. Software firms heavily reliant on AI, such as Datadog, CrowdStrike, and Zscaler, each saw their stock fall by more than 9 percent. IBM, a long-standing technology giant with its integrated AI development studio Watsonx, recorded a 13 percent drop, marking its worst one-day performance since 2000. Financial powerhouses American Express, KKR, and Blackstone, which were specifically referenced in the Citrini report, also experienced declines, according to The Wall Street Journal.
Market Rattled by “Global Intelligence Crisis”
The market’s reaction was swift and broad, with the S&P 500 index dropping more than 1 percent on Monday. The software component of the index fell to its lowest level since a previous tariff announcement in April. DoorDash, the delivery app, saw its shares decline by 6.6 percent after the Citrini report labeled it a “poster child” for how new AI technology could disrupt businesses that profit from what the authors termed “interpersonal friction.” Citrini suggested that in a future scenario, AI agents could streamline food deliveries at a much lower cost, fundamentally altering such business models.
Authored by James van Geelen, co-founder of Citrini Research, and Alap Shah, known for his AI-focused investment fund Lotus Technology Management, the report posits a hypothetical situation set in June 2028. It describes a world where “human intelligence has been the scarce input” for modern economic history, a premium that is now “unwinding” as “machine intelligence is now a competent and rapidly improving substitute for human intelligence across a growing range of tasks.” The report warns that the financial system, optimized for a world of scarce human minds, is undergoing a painful and disorderly repricing that is “far from complete.”
Citrini Research’s Dire AI Scenario
While the authors explicitly stated the article was a hypothetical situation rather than a prediction, its speculative scenario unnerved investors. The report envisions a future where widespread AI agent usage guts software companies, with ripple effects hitting private credit and mortgages, leading to an unchecked downward spiral. This scenario projects US unemployment cresting over 10 percent by June 2028, potentially sparking an “Occupy Silicon Valley” movement outside the offices of leading AI firms like OpenAI and Anthropic, as reported by The Guardian.
Despite the report’s cautionary tone, its rapid dissemination on Monday underscores the heightened anxieties surrounding AI’s economic implications. Andy Fang, co-founder of DoorDash, responded to the report on X, acknowledging that “agentic commerce will be transformative to the industry.” He added that companies like his will need to evolve to work with both AI agents and human customers, stating, “The ground is shifting underneath our feet, and the industry is going to need to adapt to it.”
Industry Reaction and Broader AI Concerns
The market’s dramatic response comes amid ongoing discussions about the sustainability of the AI boom, which has driven global financial markets for the past couple of years. Experts have questioned whether the current enthusiasm constitutes a stock market “bubble,” where prices become disconnected from underlying company value. Jordan Rizzuto, chief investment officer for investment strategy research firm GammaRoad Capital Partners, told The Wall Street Journal that fears of AI disruption are “happening sooner than most folks anticipated,” characterizing it as “the nature of an accelerating technology.” However, a 2025 report from the Brookings Institution suggested that while AI adoption has led to firm growth and employment, it has not yet caused widespread job loss.
Adding to Monday’s market volatility, global stocks were also lower due to fresh uncertainty over U.S. trade policy. President Donald Trump had announced over the weekend his intention to increase global tariff rates to 15 percent, following a Supreme Court ruling against his previously imposed tariffs. This external factor contributed to the overall market jitters, although analysts largely attributed the tech and financial sector specific drops to the Citrini Research report.
The swift and severe market reaction to Citrini Research’s hypothetical scenario underscores the deep-seated apprehension within the financial sector regarding AI’s potential to fundamentally reshape economic structures and devalue human intellectual capital. This incident highlights how even speculative narratives, when articulated with perceived authority, can trigger real-world financial consequences, reflecting a pervasive uncertainty about the pace and scope of AI’s transformative power.