If trillions of dollars are poured in but the ROI falls short, who will take over the cloud vendors' debts? I'm familiar with this script—it was the same tune before the FAANG crash in 2018.

CoinWorld News, the Bank for International Settlements warned in its annual economic report that the AI spending spree by Big Tech companies could end in a persistent investment bust, impacting financial markets and the global economy. The five major hyperscalers are expected to invest over $1 trillion in total from 2025 to the end of 2026. If the tech sector's returns fall short of expectations, investors could quickly tighten financing. The BIS noted that current household stock exposure is higher, and a sharp correction in AI-related stock markets would severely impact the real economy. Additionally, heavy bond issuance by AI companies could threaten financial stability.