"Much like how Saudi Arabia is a petrostate, the U.S. is a burgeoning AI state—and, in particular, an Nvidia-state ....America appears to be, at the moment, in a sort of benevolent hostage situation. AI-related spending now contributes more to the nation’s GDP growth than all consumer spending combined, and by another calculation, those AI expenditures accounted for 92 percent of GDP growth during the first half of 2025"

".. the data-center financing ends up being a real-estate deal as much as an AI deal. If this sounds complicated, it’s supposed to: The complexity, investment structure, and repackaging make exactly what is going on hard to parse."

https://www.theatlantic.com/technology/2025/10/data-centers-ai-crash/684765/
https://www.distilled.earth/p/these-data-centers-are-getting-really