AI Had Better Work Out""This AI thing better work out because if it doesn’t ... we’re going to have a problem,” said Tor...

AI Had Better Work Out""This AI thing better work out because if it doesn’t ... we’re going to have a problem,” said Torsten Slok, chief economist at investment firm Apollo Global Management.Today, I’m going to quantify exactly how difficult it will be for the “AI thing” to “work out.”As I’ve said before: …everybody wants to make the AI bubble really complex, it’s actually super simple: hundreds of billions of dollars are being invested to make single-digit billions of dollars maybe, some day, if AI data centers actually get built at scale and OpenAI and Anthropic can afford to pay for their compute. The theoreticals and hypotheticals of this industry are so powerful that they’ve created one of the (if not the) largest equities bubbles in modern history, all heavily-centralized around the valuations of a handful of names related to the so-called AI trade, which translates to “buying or selling stuff to do with AI GPUs.” The AI Trade Is A Global Concentration Risk, With Growth Dependent...