One thing that concerns me about the AI boom is how much money is circulating within the same group of companies.
Tech giants invest in AI startups. Those startups spend the money on chips and cloud services. The revenue then flows back to some of the same companies funding the ecosystem.
None of this automatically means the revenue is fake. But it does raise questions about how much demand is coming from actual end users versus continued investment.
Add rising debt and data center spending, and the whole system becomes more sensitive to a slowdown.
Is this just normal financing during a major technology buildout, or something investors should worry about?
[https://app.goai.digital/share/u\_Utn8BYczRE67f6PQgFx\_AA](https://app.goai.digital/share/u_Utn8BYczRE67f6PQgFx_AA)