Financial Stability Risks from AI Capital Expenditure

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  "title": "Financial Stability Risks from AI Capital Expenditure",
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  "summary": "Analyzes the \\$700B+ AI capex boom against ~\\$25-50B in direct new AI revenue, finding a 6-14x gap with structural parallels to the 1990s telecom bubble, and assigns 5-10% probability to systemic financial crisis and 30-40% to moderate correction. Identifies GPU-backed collateral, FCF destruction at major tech firms, and semiconductor supply chain cascades as key transmission mechanisms.",
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