AI BOOM: $10 TRILLION SPENDING WAVE RAISES FINANCIAL RISKS Former New York Fed President Bill Dudley warns that AI infrastructure investment could exceed $10 trillion, potentially creating massive overcapacity. Dudley estimates that only 2–3 of today's 7–8 aspiring AI hyperscalers may ultimately dominate the market. AI infrastructure could require over $3 trillion in annual revenue to justify its investment costs. Opaque private-credit financing, off-balance-sheet obligations and Nvidia's chip-value guarantees add further risks.(彭博社)