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If you want to bet on AI in the safest way,

Neoclouds can go to zero
Frontier labs can go to zero
Chip manufacturers can have their margins and earnings collapse

but there is a bet you can make on AI that's safeish. t doesn't mean you won't feel pain if the AI trade busts, but you'll be fine in the long term.

Hyperscalers. Google, Amazon, Meta, Microsoft, etc
they're funding their build out largely from cashflow,
debt is not an issue. The vast majority of their revenues aren't coming from AI. They will survive if the AI trade goes bust. We already had a preview of this with the Metaverse,
MEta invested enough money into the Metaverse to break a company. It failed. But Meta is fine.