AI CapEx as a self-perpetuating bubble
The bearish case argued: massive AI infrastructure spending is a bubble driven by fear of missing out and sunk costs, where cloud providers cannot stop spending without signaling defeat, creating a fragile cycle that will eventually break.
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The Callback
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The guest argued that the AI build-out requires massive infrastructure and energy investment, creating a structural demand boom for real assets.
The bearish case argued: massive AI infrastructure spending is a bubble driven by fear of missing out and sunk costs, where cloud providers cannot stop spending without signaling defeat, creating a fragile cycle that will eventually break.