Its about "animal spirits"

The stock market isn't rational, its a room full of people talking loudly, and moving to various tables.

All it takes is someone outside the room to shout something that triggers panic, and most of the people in the room will run for the exit.

Multiple publicly traded companies, including Microsoft, have invested significant amounts of money in OpenAI.

OpenAI collapses and MSFT tanks. Microsoft shareholders aren't quite that dumb.

And that's ignoring the dominoes of other AI firms being pulled out of because OpenAi falters.