The AI Boom Is Now Funded by Debt — And Your Pension Is the Lender

✦ Report Highlights

Something quietly changed in how the AI boom gets paid for. Companies used to fund their expansion out of their own cash, or out of money from investors who bought shares in them. Increasingly they borrow it instead, from banks and bond buyers who expect to be paid back with interest.

That one change moves the decision away from fans and into the hands of lenders. This drop is about what those lenders look at, why their questions are harder than the ones on social media, and what it means for people who never bought a share of anything.