AIThe Next Webabout 2 hours ago
Fed official asks if AI is too big to fail
1 min read
Kansas City Fed president Jeff Schmid asked whether AI is becoming too big to fail, citing nearly $2.4 trillion in Big Tech AI spending commitments. Nvidia's $750bn in AI deals pushed its credit default swaps to record levels. The Bank for International Settlements warned an AI bust could hit credit markets as hard as 2008.
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