Meta, Oracle, and Microsoft Are Powering AI With Bonds, Not Cash Flow
Every trading day, I play a good-cop, bad-cop routine when it comes to the AI gravy train. The good cop sees boundless upside — the new industrial age unfolding in teraflops, a productivity boom financed by silicon and sweat. The bad cop, meanwhile, glances at LQD sagging under the weight of new supply and wonders how long the credit market can keep swallowing it all. Both have a point.
Because this isn’t just another tech cycle — it’s the most capital-intensive build-out in modern market history, and the fuel isn’t earnings anymore, it’s debt.
https://www.investing.com/analysis/meta-oracle-and-microsoft-are-powering-ai-with-bonds-not-cash-flow-200669581