- Chipmakers and hardware firms are raking in profits while AI model and app companies are losing money—so the most profitable parts of the AI chain depend on the least profitable ones.
- Economists warn the boom is being funded by investor and hyperscaler cash rather than end‑user demand; if financing or capex slows, the sector could face a sudden pullback.
- Massive bets and debt are piling up (Goldman sees $1T+ in AI investment by 2026; Oracle and hyperscalers have huge commitments), making the whole cycle more fragile and a good topic for debate.
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