The AI data center bubble is about to burst

Last Wednesday, I had dinner with a friend who works in data center infrastructure. He had just returned from an industry conference and said that this year, everyone isn't talking about 'how to build more,' but rather 'can we recoup our costs after building?' I didn't think much of it at the time, but yesterday's Reuters analysis pulled me right back to that dining table. US corporate profits are already nearly 60% above historical trends, with most of that supported by the AI hype. The issue is, out of that 60% premium, how much is real demand, and how much is capital betting on the next round?