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MSFTORCLMUNVDAWDCSTXGOOGLAMZNMETABEARISHCore thesis · 5/5

AI capex gap signals earnings bubble collapse

A severe earnings bubble in tech AI suppliers and hyperscalers risks a steep market drawdown as massive capital expenditures fail to generate expected returns.

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MSFT: AI capex gap signals earnings bubble collapse · Zortix