Jefferies analysts have identified a list of major companies at risk of artificial intelligence disruption, highlighting concerns that rapidly developing AI models will disrupt business models. The firm created an "AI risk" basket using return profiles and an AI-assisted search algorithm to identify stocks with significant AI-related risks. The list includes 150 stocks with a market cap over $1 billion that face potential AI risks such as asset repricing, demand substitution, labor substitution, moat decay and pricing pressure. The iShares Expanded Tech-Software Sector ETF (IGV) is down over 23% this year, entering a bear market. Other stocks in the list included Accenture, Robinhood Markets and DoorDash.