Paul Kedrosky is an investor, analyst, and writer who studies technology, markets, and the forces shaping the global economy. Kedrosky joins Big Technology Podcast to discuss why he believes the historic surge in AI infrastructure spending has created a bubble that could soon unravel. Tune in to hear why rapidly falling token prices, constant hardware upgrades, and increasingly debt-funded data centers may make it extraordinarily difficult for investors to earn adequate returns. We also cover whether OpenAI and Anthropic can move up the software stack, what might cause the investment cycle to collapse, China’s competing approach, and what AI could look like after the bubble bursts. Hit play for a clear-eyed debate about whether transformative technology can still produce a disastrous investment cycle.

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