Official Diagnosis: US Fed Equates AI Boom to Historic Credit Bubbles

Macroeconomic regulators are moving from observation to direct warnings. On August 5, 2026, a representative of the US Federal Reserve (Fed) publicly stated that the astronomical growth in AI infrastructure investments is beginning to form systemic risks comparable to the largest bubbles of the past (dot-coms).

This statement echoes the recent credit audit by Fitch. The Fed points to a dangerous gap: Big Tech is raising hundreds of billions of dollars (CAPEX) to buy chips and build data centers, while the monetization of generative models (ROI) lags significantly behind. For the banking sector, this is an ironclad signal to revise the scoring of technology companies. If hyperscalers fail to convert computing power into stable B2B revenue, the debt burden of the IT sector will trigger a chain reaction of defaults that will hit the entire dollar economy.

Source: Federal Reserve / Reuters