The implosion of a $45 billion AI hedge fund isn't just a market correction. It exposes the hidden, debt-fueled foundation of the entire AI infrastructure boom. The Fundamental Problem: AI Capex Outpaced Cash Generation For the past two years, the technology sector has been locked in a massive arms race to build data centers and secure advanced chips. This insatiable appetite for AI hardware has pushed hyperscalers and specialized cloud providers to accumulate colossal amount
