Shares of major credit card companies experienced a sharp decline on February 23 following a report by Citrini Research, which speculated on the potential impact of artificial intelligence (AI) on the payments industry. Visa, Mastercard, American Express, and Capital One saw drops of 4.4%, 6.3%, 7.9%, and 8% respectively. The report suggested AI could enable autonomous transactions, potentially replacing credit cards with stablecoins for some payments. However, a subsequent note from The Kobeissi Letter countered these concerns, arguing that AI could enhance consumer spending power by reducing costs. This perspective helped stabilize the market, with Visa, Mastercard, and American Express shares remaining steady or slightly higher by February 24, while Capital One rose about 4%. The incident highlights the market's sensitivity to AI-related narratives and the ongoing debate over AI's role in economic disruption and growth.