E380 - Is the $3 Trillion AI Bubble About to Burst?

The AI boom is producing record revenues, massive infrastructure projects, and some of the biggest technology investments ever attempted. But beneath those headline numbers, the financial picture described in this episode looks far more fragile.

David and Sophia examine the apparent contradiction at the center of the AI economy: Big Tech can report enormous profits while simultaneously pouring extraordinary amounts of cash into data centers, chips, power, and compute infrastructure.

Using Alphabet as a starting point, the conversation explores why reported profit and free cash flow can tell dramatically different stories—and why investors may be...