“The core economic flaw in the AI bull case is that the marginal cost of producing compute exceeds the marginal benefit it delivers to users, raising questions about claims of unlimited demand for data centers,”

Torsten Slok · said 2026-10-20 · reported 2026-10-24

Slok issued a series of warnings about the AI boom, arguing on Tuesday that the marginal cost of producing compute exceeds the marginal benefit to users.