Editorial companion

What stands out

Bloomberg lays out a clear, uncomfortable fact: hyperscalers, data-center operators and chipmakers have borrowed hundreds of billions to build the physical backbone for generative AI, and that borrowing is changing the shape of corporate credit markets. The striking moment in the clip is the question of capacity, how much AI-related debt can the market absorb before spreads widen or lenders pull back, because it reframes AI from a software boom into a balance-sheet risk that could ripple through banks, leveraged-loan desks and institutional bond funds.