{"id":"50b859ff672204caac92443c293b9a0c7f9ae55ce654758d814bbd24323fb3af","title":"Ed Zitron argues AI data-center spending rests on fragile demand and debt","argument":"Ed Zitron’s piece was published on September 29, 2026. He argues that chip sales and rising demand for AI compute do not show that a broad customer base can pay for the infrastructure being built. In his account, much capacity is not yet usable, while a small number of AI companies buy much of the compute that comes online; those companies and many other AI startups rely on continued investment to fund their spending.\n\nZitron also traces a debt “doom loop”: expensive data centers and equipment require more borrowing, while rising costs and slow construction make repayment harder. He argues that data-center projects depend on customers that may not remain able to pay by the time construction finishes. 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