Just as debt markets fueled the global financial near-meltdown that followed the 2007–08 subprime-mortgage crisis, their exposure to AI will drive developments now. The problem is that we possess only very limited public information about those markets, and regulators are not making that information any easier to obtain.
HANALEI, HAWAII—For months, if not years, AI has dominated speculation about the future, which has fueled speculation in the present. AI-related ventures are largely responsible for the rapid increase of the S&P 500 stock index. Investment in data centers is a major contributor to the rise in US interest rates, as borrowing for construction competes for credit with a deficit-prone federal government.
HANALEI, HAWAII—For months, if not years, AI has dominated speculation about the future, which has fueled speculation in the present. AI-related ventures are largely responsible for the rapid increase of the S&P 500 stock index. Investment in data centers is a major contributor to the rise in US interest rates, as borrowing for construction competes for credit with a deficit-prone federal government.