$680 Billion and a Prayer: The AI Capex Bomb Nobody Wants to Defuse
Big Tech is spending $680 billion on AI capex in 2026 while 95% of enterprise AI investments deliver zero return. The equity risk premium has collapsed to near zero, and market concentration hasn't been this extreme in half a century. The catalyst for a correction is closer than the consensus thinks.
By Ray Vega · 5 min read