AI's debt wall
2025-09-29

Last year in my newsletter, I ran a short essay titled "The Looming AI Debt Wall."

The piece drew parallels between the worrying debt issues in commercial real estate and the promises made by the AI field. Just like a commercial real estate loan, the various flavors of AI debt will eventually come due. It's not clear whether AI will be able to pay up.

Why am I thinking about this again? No clue! But, totally unrelated, there have been some recent announcements about massive AI investments. And that's raised a few eyebrows.

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