Finally, beware the macro picture: of the $3T AI build‑out, 60–70% appears to be private credit. That’s where a bubble can form. The rest is big‑tech balance‑sheet funding. This mix is not sustainable.
Finally, beware the macro picture: of the $3T AI build‑out, 60–70% appears to be private credit. That’s where a bubble can form. The rest is big‑tech balance‑sheet funding. This mix is not sustainable.