Big US tech firms borrow $223B to fund AI projects
Business
Big US tech companies are borrowing more than double last year's total this year, raising $223 billion to build out their AI projects.
Alphabet alone took on $29 billion in new bonds just last month.
All this cash is going into data centers and specialized chips needed to keep the AI race moving.
Christopher Wood suggests gold over bonds
AI spending now drives nearly one-half of US economic growth, but experts like Christopher Wood warn there's a catch: if investment slows down, so could the economy.
Plus, all this borrowing makes things pricier for everyone, pushing up inflation and interest rates.
Wood even suggests gold might be a safer bet than long-term US bonds right now.