Don't get me wrong here, I actually love AI (minus the job displacement). I see great potential. Math, physics, medicine, universal modelling... The only problem I have with the technology is the current trend is replacing humans.
That being said, I'm also seeing a gigantic effing bubble. 97% of all VC is being captured by AI investment. Nevermind 47% of investment-grade and 38% of high-yield bond investment.
Keep in mind that recently legislation was passed to allow for investment groups to dump 401k and retirement funds into unregulated private equities.
But the real kicker here -- they're tranching AI debt. Just like the did in 2008 with mortgage-backed securities. If this doesn't scream "aw, shit!"... I don't know what does!