$200 Billion in AI Debt Was Raised in a Single Year. A New Jim Rickards Presentation Asks Who’s Holding the Risk

AI infrastructure financing reached $200 billion in debt during 2025, with hundreds of billions more expected in coming years. Financial analyst Jim Rickards warns that this massive borrowing boom, financed through bonds and private credit arrangements, has created hidden risks for ordinary investors through pension funds and bond portfolios. Concerns from JPMorgan and Oliver Wyman suggest institutional investors may have underestimated their exposure to data-center and digital-infrastructure risk.