You’re Already Funding the AI Bubble — and You’ll Pay for the Bust

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The debate over the artificial-intelligence boom has mostly been framed as a market question: whether NVIDIA Corp.’s (NASDAQ:NVDA) valuation is stretched, whether hyperscalers are overbuilding data centers, whether the capital-expenditure cycle can eventually be justified by revenue.

According to Scott Ortkiese, CEO & President of Faulkner Capital Holdings, that’s the wrong question. “The important story is not whether the bubble pops; the important story is who pays when it does,” he wrote for Throughline Synthesis.