AI Is Real. The Financing Cycle May Still Break. (opens in new tab)

AI is no longer a toy trend. It is now connected to cloud capital spending, semiconductor supply chains, data center construction, electricity demand, enterprise software budgets, private credit, equity-market concentration, and government industrial policy. That is why the phrase “AI bubble” keeps appearing beside “dot-com bubble.” The serious question is not whether AI is useful. It clearly is. Developers use it for code assistance. Security teams use it for triage and summarization. Enterp...