Opinion | The AI Collateral Blind Spot

Oct. 5, 2026 9:54 am ET

Jonathan Weil argues that a funding gap could signal the end of the AI boom (“How to Know When AI Boom Is Ending,” Heard on the Street, Sept. 28). A warning may appear sooner in the collateral behind AI-infrastructure loans. Investors should ask how a loan holds up if chip-resale values, utilization and rental rates fall together. Capital can continue flowing even as the collateral supporting some loans becomes harder to value. Better data would make that risk visible before the funding gap opens.

Rohan Sharma

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