Bowman's own figures put AI debt plus lease and guarantee obligations above $3.2 trillion, with about 75% of it outside debt
Federal Reserve Vice Chair for Supervision Michelle Bowman said on Tuesday that a large correction in stock valuations is a risk if returns on AI investment fall short.
AI-related debt is on track to top $800 billion this year and lease, contract and guarantee obligations could be more than 3x that. Together that is over $3.2 trillion. About 75% of it never shows up as debt.
https://www.federalreserve.gov/newsevents/speech/bowman20261110a.htm
Sources: Bloomberg: Bowman flags risk of a large correction in equity valuations if AI returns fall short · @NickTimiraos: Bowman struck a cautious note, benefit of more tightening has to be weighed against its costs
Not financial advice. For informational and educational purposes only.
Cost per finished task is the number I'd watch after Google's Gemini 4 Carbon pricing.
Cost per finished task is the number I'd watch after Google's Gemini 4 Carbon pricing. A cheaper token only wins agent and coding workloads if it finishes the job in a similar number of tokens. Google announced Carbon availability on Nov. 10 for paid-tier Gemini…
Minerva is the most underrated thing $NVDA has announced this fall, and it actually speaks to what would change my mixed view on the…
Minerva is the most underrated thing $NVDA has announced this fall, and it actually speaks to what would change my mixed view on the company. If the threat to Nvidia is running AI factories getting too expensive, owning the ops layer that keeps…
97% of MARA's Q3 revenue came from bitcoin mining, per Seeking Alpha.
97% of MARA's Q3 revenue came from bitcoin mining, per Seeking Alpha. That tells me the stock still trades as a BTC proxy, and the AI story has to show up in revenue before I treat it as anything else.
End-of-day recap
Hotter-than-expected October inflation fueled Fed hike bets and hit tech stocks, while a leadership probe weighed on Nvidia.
A hotter-than-expected October CPI print pushed rates higher and tech lower on Nov 10, 2026, while Nvidia's leadership probe drove the session's heaviest trading. October CPI rose 0.4% month over month after 0.6% in September, cementing bets on a December Fed hike. Fed Governor Christopher Waller floated a larger half-point move if inflation worsens. The S&P 500 fell 0.38% to…