Analysis: The AI Capital Cycle Is "Unlike Anything We Have Ever Seen"

An analysis argues the AI capital cycle stands apart from prior tech buildouts, citing a potential $30 trillion knowledge-work opportunity that requires trillions in infrastructure reinvestment every year.
With the global corporate bond market sized at $10-15 trillion, the analysis warns AI investment will draw capital away from other corporate borrowers. It frames the buildout as cyclical, noting capital will keep flowing in until returns saturate, though nobody knows where that tipping point lies.