The AI boom hinges on one question: how long will the bond market keep paying?

The question we should all be asking about AI

Big Tech has spent $1.6 trillion on AI infrastructure since 2023, and JPMorgan expects roughly $1 trillion a year for the next decade. Stocks are wobbling as profits lag, yet bond investors keep lending — hyperscalers alone may issue about $250 billion in debt this year. Goldman Sachs sees room for far more borrowing, but the real risk is rising yields bleeding over from equity markets and choking the economics that still work.