# AI capex — X 热门讨论 (2026-09-24 16:42 UTC)
## @kurtsaltrichter (Kurt S. Altrichter, CRPS®) · 09-24 13:17 · ♥61 ↻28 💬3 AI adoption is spreading. The spending is not.
About 10% of businesses on Ramp now pay a GPU vendor, up from under 4% two years ago. But the top 10% of those customers are 99.5% of all model-serving spend. The bottom 90% barely register.
The whole AI infrastructure boom rides on a handful of heavy spenders. If they pull back, the capex story goes with them. https://x.com/kurtsaltrichter/status/2103111469667615036
## @ekwufinance (Lukas Ekwueme) · 09-24 16:04 · ♥53 ↻7 💬10 Gold is outperforming the S&P by ~30% since the release of ChatGPT.
The biggest capex boom in human history is getting outperformed by gold just sitting idle, doing nothing.
AI investors might get richer nominally but lose on a real basis measured in gold.
At the same time, global sovereign debt markets are collapsing.
We don't own enough gold for what's coming. https://x.com/ekwufinance/status/2103153511466697208
## @Ross__Hendricks (Ross Hendricks) · 09-24 15:01 · ♥41 ↻6 💬5 What we're seeing is the early death rattle of the debt-fueled AI capex binge > 引用 @TheStalwart: We're starting to see some things
*ORACLE SENDS FORCE MAJEURE NOTICE OVER NEW MEXICO DATA CENTER https://t.co/QwgmriPw8Z https://x.com/Ross__Hendricks/status/2103137695031845066