Zortix matched this thesis to Artificial intelligence ETFs as the exposure the bearish case argues against, most actionable for readers who already hold them. Not a recommendation.
AI hyperscalers as price-inelastic debt issuers
The argument was made that hyperscalers funding the AI buildout are not solving for coupon cost but are buying cheap optionality on a vast total addressable market, making them relatively price-inelastic debt issuers.
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