The AI Risk Stack

There are concerns about the spending... and it's not the government this time.

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At it’s core, Money Printer Pro is a risk letter.

And the stories coming out of Wall Street remain the same around the AI boom.

Big Tech is currently spending nearly every dollar it earns on data centers. Consensus has it at 98% of cash flow this year. The last sector to do that was telecom in 1999, …