The rise of AI marks the emergence of a new ruling class: not capitalists who own physical means of production, but tech oligarchs who control the digital infrastructure of society. This transformation demands a fundamental revision of Marxist class analysis while confirming its core insights about power and exploitation. This paper analyzes how artificial intelligence transforms the core dynamics of capitalism: the nature of labor, value creation, class relations, and alienation. Drawing from classical Marxist theory and contemporary critical perspectives, we examine whether Marx’s analytical framework remains valid when algorithms become primary producers of economic value. The analysis reveals that while some of Marx’s specific predictions require revision, his critical method becomes even more relevant in the age of AI. We argue that artificial intelligence intensifies capitalism’s fundamental contradictions, creating new forms of exploitation while concentrating unprecedented power in those who control digital infrastructure.