Artificial Intelligence

  • Investing in AI? The Hidden Risks Behind the Hype

    Credit & Risk

    6 min readNearly four years after we first highlighted the credit advantages of Big Tech’s large cash holdings, balance sheet strength has only grown more important. The rapid adoption of generative AI is driving a surge in infrastructure and data-center spending, and capital expenditures (capex) that were once modest are now among the largest uses of corporate…

  • AI Check-In

    Credit & Risk

    6 min readBefore tariffs dominated the headlines, it was the rise of artificial intelligence (AI) that propelled movements in financial markets. The surging demand for AI models like ChatGPT and the advanced semiconductors needed to develop them primarily benefited the tech sector, while also driving increases in broader equities. Post-inauguration, attention to the nascent technology waned as…