$NEAR
$FET
🚨 Michael Burry says AI companies are on track to outspend even the dot-com bubble.
He says overspending like this has marked the top of every major bubble over the past 40 years.
S&P 500 net investment hit 2.07% of GDP in Q2, the highest level in almost 40 years except the 2000 peak itself.
He expects that number to keep climbing, possibly passing the dot-com level entirely in the next few quarters.
In 2000, capital spending kept rising even after the Nasdaq topped out, and it took 15 years to fully recover.
In 2007, net investment peaked months before the S&P 500 itself topped out, right before the housing crash.
In the 2010s shale boom, energy stocks peaked in the middle of the drilling spending cycle, then collapsed.
Burry says the crash after 2000 left depreciation so large it dragged net investment negative for 12 straight quarters between 2003 and 2006.
That hangover helped wipe out Lehman Brothers, Bear Stearns, Washington Mutual, Countrywide, and AIG.
The top 5 hyperscalers now carry $3 trillion in combined purchase commitments, leases, and debt guarantees tied to AI data centers.
Their free cash flow is turning negative as borrowing accelerates to fund the buildout.
Every time investment has run this hot relative to the economy, it has ended in a crash.
#crypto #CryptoNewsCommunity
$FET
🚨 Michael Burry says AI companies are on track to outspend even the dot-com bubble.
He says overspending like this has marked the top of every major bubble over the past 40 years.
S&P 500 net investment hit 2.07% of GDP in Q2, the highest level in almost 40 years except the 2000 peak itself.
He expects that number to keep climbing, possibly passing the dot-com level entirely in the next few quarters.
In 2000, capital spending kept rising even after the Nasdaq topped out, and it took 15 years to fully recover.
In 2007, net investment peaked months before the S&P 500 itself topped out, right before the housing crash.
In the 2010s shale boom, energy stocks peaked in the middle of the drilling spending cycle, then collapsed.
Burry says the crash after 2000 left depreciation so large it dragged net investment negative for 12 straight quarters between 2003 and 2006.
That hangover helped wipe out Lehman Brothers, Bear Stearns, Washington Mutual, Countrywide, and AIG.
The top 5 hyperscalers now carry $3 trillion in combined purchase commitments, leases, and debt guarantees tied to AI data centers.
Their free cash flow is turning negative as borrowing accelerates to fund the buildout.
Every time investment has run this hot relative to the economy, it has ended in a crash.
#crypto #CryptoNewsCommunity
