In recent weeks, there's been renewed anxiety about the sustainability of the AI boom. This is partly due to comments from OpenAI CFO Sarah Friar about a possible role for a government backstop in the AI infrastructure build out. We've also seen the stock market wobble, with many major tech names hit hard. But even with all these concerns, we continue to see new announcements all the time. Just this week, Anthropic said it would spend $50 billion on data center development in the US. So are we actually in a bubble? Our guest on this episode believes we are -- and not just any bubble. According to Paul Kedrosky, a longtime VC currently at SK Ventures, the AI bubble is like every previous bubble rolled into one. There's the real estate element. There's the tech element. And, increasingly, there are exotic financing structures being put in place to fund it all. And then on top of that, there's talk of government bailouts and backstops. In this episode, we walk through some of the math that would be required to justify all this spending, and how the seemingly existential stakes of 'winning the AI race' is causing an unsustainable investment binge. Read more:<a href="https://www.bloomberg.com/news/articles/2025-11-13/ai-startup-cursor-raises-funds-at-29-3-billion-value-wsj-says?utm_medium=referral&utm_source=podcast&utm_campaign=odd_lots&utm_content=article" data-renderer-mark="true" data-is-router-link="false" data-testid="link-with-safety">AI Startup Cursor Raises Funds at $29.3 Billion Valuation</a><a href="https://www.bloomberg.com/news/articles/2025-11-14/usd-krw-point72-s-drossos-sees-dollar-easing-fall-as-ai-to-aid-won-yuan?utm_medium=referral&utm_source=podcast&utm_campaign=odd_lots&utm_content=article" data-renderer-mark="true" data-is-router-link="false" data-testid="link-with-safety">Point72&rsquo;s Drossos Sees AI Boom Driving Gains in Asian Currencies</a> Only <a href="http://bloomberg.com/" data-testid="inline-card-resolved-view">Bloomberg - Business News, Stock Markets, Finance, Breaking & World News</a> subscribers can get the Odd Lots newsletter in their inbox each week, plus unlimited access to the site and app. Subscribe at&nbsp; <a href="https://www.bloomberg.com/subscriptions/oddlots?in_source=oddlotspodcast" data-renderer-mark="true" data-is-router-link="false" data-testid="link-with-safety">bloomberg.com/subscriptions/oddlots</a> Join the conversation: <a href="https://discord.gg/oddlots" data-renderer-mark="true" data-is-router-link="false" data-testid="link-with-safety">discord.gg/oddlots</a>See <a href="https://omnystudio.com/listener">omnystudio.com/listener</a> for privacy information.

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