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Glenn Beck: The multitrillion-dollar ‘AI debt’ crisis unfolding in front of our eyes

theblaze.com · 1h · first reportShare

Artificial intelligence is being sold as a necessary, giant leap forward. But there’s another story unfolding beneath it: a borrowing spree unlike anything America has ever seen. And Blaze Media co-founder Glenn Beck is sounding the alarm, asking, “Who is borrowing more money now than anybody in America besides the federal government?” “The people who are borrowing more money than anybody else are the people building artificial intelligence,” he explains, and the company SoftBank is among them. “SoftBank just borrowed $11 billion in junk bonds, paying as much as 9 and 3/4%,” he says. “Oracle’s interest bill for one quarter jumped 55%. Their interest is now $1.4 billion. JP Morgan expects $4 trillion of AI debt to be issued between now and 2030." "That’s a tenth of our national debt borrowed,” he continues. “And just in time, as the price of borrowing is climbing. This is like building your dream house with an adjustable-rate mortgage,” he says. “And the rate just keeps being adjusted,