Scott Galloway, former head of the Inside Economics podcast and Moody's chief economist Mark Zandi, has warned that AI-centric companies like NVIDIA (NASDAQ:NVDA) could see their valuations slashed over 70% due to its high expectations surrounding the sector, which now represents roughly 40% of the S&P 500. Galloway argues that AI is a convenient tool for corporate trimming and allows tech companies to reduce job losses while simultaneously increasing profit margins. He also dismissed the claims that AI will destroy the global workforce, claiming that executives are using the promise of an AI revolution to hide their managerial incompetence. Shares of NVDA have fallen by 4.19% year-to-date, mirroring losses in the Nasdaq 100 index.