Who Pays for the AI Infrastructure Boom?
Nvidia, OpenAI, Oracle, and CoreWeave are funding 2026’s AI data center buildout through vendor equity stakes, off-balance-sheet debt vehicles, and backlogs built on prepaid or customer-supplied hardware — not primarily through free cash flow. That shifts risk toward chipmakers, private-credit investors, and leveraged compute resellers, while the hard limit on how fast any of it … Read more