There are growing signs the AI bubble has indeed been a bubble and it may be reversing. That's not great for stocks, obviously, but the potential goes way beyond plaguing equities. There are direct impacts as well as, most importantly, the combination with other negative factors producing a confluence of too many headwinds. 

Eurodollar University's Money & Macro Analysis

Bloomberg Microsoft Abandons Data Center Projects, TD Cowen Says
https://www.bloomberg.com/news/articles/2025-03-26/microsoft-abandons-more-data-center-projects-td-cowen-says

Bloomberg Alibaba’s Tsai Warns of ‘Bubble’ in AI Data Center Buildout
https://www.bloomberg.com/news/articles/2025-03-25/alibaba-s-tsai-warns-of-a-bubble-in-ai-datacenter-buildout

Bloomberg US Credit Risk Gauge Shows Fear Rising as Tariffs Loom This Week
https://www.bloomberg.com/news/articles/2025-03-31/us-credit-risk-gauge-shows-fear-rising-as-tariffs-loom-this-week

WSJ Tech Giants Double Down on Their Massive AI Spending
https://www.wsj.com/tech/ai/tech-giants-double-down-on-their-massive-ai-spending-b3040b33

Goldman Sachs Will the $1 trillion of generative AI investment pay off?
https://www.goldmansachs.com/insights/articles/will-the-1-trillion-of-generative-ai-investment-pay-off

CNBC First-quarter GDP growth will be just 0.3% as tariffs stoke stagflation conditions, says CNBC survey
https://www.cnbc.com/2025/03/31/first-quarter-gdp-growth-will-be-just-0point3percent-as-tariffs-stoke-stagflation-conditions-says-cnbc-survey.html

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