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September 2026 · 130 voices
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September 2026 · 130 of the 74 voices we track · 729 mentions

Sep 1 → Oct 1, 05:30 ET · Last update Oct 6, 02:18 ET

September 2026Live view →
Sceptical

Across finance media and Bloomberg posts, AI is framed as simultaneously indispensable, overhyped, and newly risky. Regulatory and political scrutiny intensified, with reports of FTC probes and developers backing an accord to avoid new rules, while OpenAI moves to earlier third‑party safety vetting 1330. Market voices debate whether AI CapEx and data centers are sustainable or a bubble, with warnings about circular financing, capacity constraints, and uneven payoffs, even as corporate mentions of AI remain pervasive and chip-demand optimism resurges on product signals 1318192233. Views diverge on societal impact, from job-loss fears and inequality risks to hopes that AI can recenter expertise; some see security and power infrastructure as key beneficiaries, while others argue voters care less than online discourse suggests 52025294042.

Where the voices land

All voices 25 voices

12 bearish13 bullish

Strongly bearish

  • BSBill SmeadStrongly bearish Smead warns the AI capex mania is bigger than past bubbles and will break, with accounting chicanery on a larger scale. “The magnitude of this mania is way bigger. It's probably five-fold.” ▶ 14:46 ‘Almost 0%’ Chance Stocks Are Higher In 10 Years… · 27 Sept
  • BEBob ElliottStrongly bearish Elliott argues the planned AI capex requires implausibly large revenue by 2030, implying the AI capex boom is unsustainable. “penciling out the need for 3tln+ revenue by 2030 to pay for all the planned capex” Open the post Earlier this summer I wrote "The Shit Returns Co… · 27 Sept
  • TOTed OakleyStrongly bearish Ted Oakley thinks the AI trade is overhyped, that the promised profitability won't materialize, and the sector will not hold up over the next year or two. ▶ 3:16 Ready For A Bear Market? Most Investors Aren't |… · 24 Sept

Bearish

  • LGLaks GanapathiBearish Ganapathi questions the value of AI capex, seeing much of it as a cover for layoffs rather than genuine competition. “what percentage of that AI capex is being invested just so they can lean the amount of people that they are working in the firms” ▶ 38:00 LAKS GANAPATHI | Gold & gold proxies have been t… · 30 Sept
  • EZEd ZitronBearish Zitron warns the AI bubble bursts when the money runs out and the debt markets turn. “how, well, the AI bubble bursts when the money runs out” ▶ 7:11 Monologue: Anthropic Lost $8bn In 2025, Was A Wo… · 30 Sept
  • LLLawrence LepardBearish He sees signs of cracks in the AI story and expects it to eventually stumble. “there are a few signs that there are cracks in that whole story” ▶ 15:13 No Living Investor Has Seen A Time Like This Bef… · 29 Sept
  • JSJeff SniderBearish The AI capex boom is on its initial upswing and will be followed by a downswing, as every disruptive technology cycle has been. “We're on the upswing in the initial phase and so there's a downswing there.” ▶ 31:59 Rare Recession Indicator Is ‘Screaming’—No One’s… · 26 Sept
  • ETErik TownsendBearish China's free open source models could be an intentional strategy to upset and crash the US AI boom. “it potentially could be China's intentional strategy to upset and crash the U.S. AI boom” ▶ 43:53 MacroVoices #551 Michael Every: Decoding The Glo… · 25 Sept
  • DCDCPBearish DCP would rather short an AI leader, comparing AI to the subprime and dot-com leverage bubbles. “I'd much rather have an aggressive short position on something in AI that I think is just wrong” ▶ 54:49 The Bond Market Pain Isn't Over | Weekly Roundup · 25 Sept
  • GMGary MarcusBearish Marcus argues the AI build-out's economics won't work out because there is no technical moat and models are becoming commoditized. “I'm not sure the finances of all this is really going to work out.” ▶ 2:58 Jim Chanos & Gary Marcus: Circular AI Financing,… · 25 Sept
  • DDDanielle DiMartino BoothBearish AI-related capital expenditure growth has turned negative, contracting 34.6% in the second quarter. ▶ 0:40 Economy’s MAJOR CRACKS: Why the Fed Got Everythi… · 24 Sept
  • AHArthur HayesBearish Hayes says the market doesn't want enough of the AI being sold at current prices, only at the far cheaper China price. “the market doesn’t want enough of the AI they are selling at its current price. To be specific, the market loves AI, but at the China price, which is 1/100th as expensive.” Open the post Check out my new essay "Safety First". Trump ha… · 21 Sept

Bullish

  • BPBen PouladianBullish Scaling laws still hold, driving insatiable demand for compute, though a plateau will eventually come. “until now, the bigger the training run, the better the results and the more capable the model has been” ▶ 47:40 Token Bill Dwarfs CPU Bill | Ben Pouladian on Me… · 30 Sept
  • JCJeffrey Currie ++ · on the show, speaker unnamedBullish Speaker 01 sees an inflection point in America where bringing AI to bear on industries like coal makes them more efficient. ▶ 6:39 How AI and Computer Vision Drive Underground Coa… · 28 Sept
  • RHRick HeitzmannBullish He thinks AI is a fundamental change that is affecting everything, though over-talked and over-vilified. “AI is exhausting. I mean, it's affecting everything, and it's a fundamental change.” ▶ 12:52 Rick Heitzmann at Manhatta | Standing Table Po… · 28 Sept
  • JCJames ChanosBullish Chanos says he is probably net long the AI trade, since his shorts don't offset index weightings. “I'm probably net long the AI trade, because I am” ▶ 23:18 Jim Chanos & Gary Marcus: Circular AI Financing,… · 25 Sept
  • BSBrad SetserBullish AI demand is driving the manufacturing deficit higher, implying strong AI-related demand. “the deficit is rising again (on AI demand)” Open the post Important to understand what is in the manufactu… · 3 Sept

Strongly bullish

  • ABArnaud BertrandStrongly bullish He expects AI tools will soon (and already do) internationalize hundreds of thousands of mini-series. “China would soon have AI tools to easily internationalize” Open the post People are really not paying enough attention to… · 30 Sept
  • JEJames ElbaorStrongly bullish He says AI is eating SaaS's lunch and its disruption has been material. “AI is certainly eating SaaS's lunch” ▶ 4:15 The Private Credit Boom is Over: Redemption Requ… · 27 Sept
  • ALArthur LafferStrongly bullish Laffer says AI helps consumers and producers and benefits the poor through cheaper goods. “ai helps consumers and producers And when you look at a poor person, what the product costs matters a lot.” ▶ 34:34 Art Laffer On Bond Market MELTDOWN: How Bad Coul… · 24 Sept
  • SASam AltmanStrongly bullish Altman sees no competitive threat in the AI market on a per-task pricing basis and wants people to use lots of AI as a new renaissance unfolds. “I don't think there is anything competitive anywhere in the market.” Open the post Especially compared by per-task pricing, which i… · 22 Sept
  • TKThe Kobeissi LetterStrongly bullish AI is the new engine of global trade growth, driving historic expansion. “AI is the new engine of global trade growth.” Open the post AI goods are driving historic global trade growt… · 21 Sept
  • GBGary BohmStrongly bullish Bohm sees the AI buildout continuing to demand massive amounts of metal. “The AI Buildout Still Needs Massive Metal The World Hasn't Mined” Open the post THE MINING SUPPLY SHELF IS STILL WAY SHORT: The … · 15 Sept
  • MEMichael EveryStrongly bullish Every argues AI is far more than a passing US bubble — it is the new Great Game or the key to winning it, with major moves underway. “It IS the new Great Game - or it’s the key to winning it.” Open the post Some think AI is about snappier emails, quirky v… · 14 Sept
  • Jack FarleyStrongly bullish Farley dismisses the idea that a 5% 10-year yield will kill the AI trade, saying the AI trade will survive and Silicon Valley is laughing at the bears. “how a 5% 10-year Treasury yield is going to kill the AI trade (spoiler alert, it's not” Open the post When you're so levered long legacy enterprise so… · 10 Sept
Capex, revenue and payback 8 voices

6 bearish2 bullish

Strongly bearish

  • BEBob ElliottStrongly bearish Elliott argues the planned AI capex requires implausibly large revenue by 2030, implying the AI capex boom is unsustainable. “penciling out the need for 3tln+ revenue by 2030 to pay for all the planned capex” Open the post Earlier this summer I wrote "The Shit Returns Co… · 27 Sept
  • TOTed OakleyStrongly bearish Ted Oakley thinks the AI trade is overhyped, that the promised profitability won't materialize, and the sector will not hold up over the next year or two. ▶ 3:16 Ready For A Bear Market? Most Investors Aren't |… · 24 Sept

Bearish

  • LGLaks GanapathiBearish Ganapathi questions the value of AI capex, seeing much of it as a cover for layoffs rather than genuine competition. “what percentage of that AI capex is being invested just so they can lean the amount of people that they are working in the firms” ▶ 38:00 LAKS GANAPATHI | Gold & gold proxies have been t… · 30 Sept
  • JSJeff SniderBearish The AI capex boom is on its initial upswing and will be followed by a downswing, as every disruptive technology cycle has been. “We're on the upswing in the initial phase and so there's a downswing there.” ▶ 31:59 Rare Recession Indicator Is ‘Screaming’—No One’s… · 26 Sept
  • GMGary MarcusBearish Marcus argues the AI build-out's economics won't work out because there is no technical moat and models are becoming commoditized. “I'm not sure the finances of all this is really going to work out.” ▶ 2:58 Jim Chanos & Gary Marcus: Circular AI Financing,… · 25 Sept
  • DDDanielle DiMartino BoothBearish AI-related capital expenditure growth has turned negative, contracting 34.6% in the second quarter. ▶ 0:40 Economy’s MAJOR CRACKS: Why the Fed Got Everythi… · 24 Sept

Bullish

  • BPBen PouladianBullish Scaling laws still hold, driving insatiable demand for compute, though a plateau will eventually come. “until now, the bigger the training run, the better the results and the more capable the model has been” ▶ 47:40 Token Bill Dwarfs CPU Bill | Ben Pouladian on Me… · 30 Sept
  • BSBrad SetserBullish AI demand is driving the manufacturing deficit higher, implying strong AI-related demand. “the deficit is rising again (on AI demand)” Open the post Important to understand what is in the manufactu… · 3 Sept
Adoption, disruption and growth 7 voices

7 bullish

Bullish

  • JCJeffrey Currie ++ · on the show, speaker unnamedBullish Speaker 01 sees an inflection point in America where bringing AI to bear on industries like coal makes them more efficient. ▶ 6:39 How AI and Computer Vision Drive Underground Coa… · 28 Sept
  • RHRick HeitzmannBullish He thinks AI is a fundamental change that is affecting everything, though over-talked and over-vilified. “AI is exhausting. I mean, it's affecting everything, and it's a fundamental change.” ▶ 12:52 Rick Heitzmann at Manhatta | Standing Table Po… · 28 Sept

Strongly bullish

  • ABArnaud BertrandStrongly bullish He expects AI tools will soon (and already do) internationalize hundreds of thousands of mini-series. “China would soon have AI tools to easily internationalize” Open the post People are really not paying enough attention to… · 30 Sept
  • JEJames ElbaorStrongly bullish He says AI is eating SaaS's lunch and its disruption has been material. “AI is certainly eating SaaS's lunch” ▶ 4:15 The Private Credit Boom is Over: Redemption Requ… · 27 Sept
  • ALArthur LafferStrongly bullish Laffer says AI helps consumers and producers and benefits the poor through cheaper goods. “ai helps consumers and producers And when you look at a poor person, what the product costs matters a lot.” ▶ 34:34 Art Laffer On Bond Market MELTDOWN: How Bad Coul… · 24 Sept
  • SASam AltmanStrongly bullish Altman sees no competitive threat in the AI market on a per-task pricing basis and wants people to use lots of AI as a new renaissance unfolds. “I don't think there is anything competitive anywhere in the market.” Open the post Especially compared by per-task pricing, which i… · 22 Sept
  • TKThe Kobeissi LetterStrongly bullish AI is the new engine of global trade growth, driving historic expansion. “AI is the new engine of global trade growth.” Open the post AI goods are driving historic global trade growt… · 21 Sept
Bubble, valuations and the burst 7 voices

6 bearish1 bullish

Strongly bearish

  • BSBill SmeadStrongly bearish Smead warns the AI capex mania is bigger than past bubbles and will break, with accounting chicanery on a larger scale. “The magnitude of this mania is way bigger. It's probably five-fold.” ▶ 14:46 ‘Almost 0%’ Chance Stocks Are Higher In 10 Years… · 27 Sept

Bearish

  • EZEd ZitronBearish Zitron warns the AI bubble bursts when the money runs out and the debt markets turn. “how, well, the AI bubble bursts when the money runs out” ▶ 7:11 Monologue: Anthropic Lost $8bn In 2025, Was A Wo… · 30 Sept
  • LLLawrence LepardBearish He sees signs of cracks in the AI story and expects it to eventually stumble. “there are a few signs that there are cracks in that whole story” ▶ 15:13 No Living Investor Has Seen A Time Like This Bef… · 29 Sept
  • ETErik TownsendBearish China's free open source models could be an intentional strategy to upset and crash the US AI boom. “it potentially could be China's intentional strategy to upset and crash the U.S. AI boom” ▶ 43:53 MacroVoices #551 Michael Every: Decoding The Glo… · 25 Sept
  • DCDCPBearish DCP would rather short an AI leader, comparing AI to the subprime and dot-com leverage bubbles. “I'd much rather have an aggressive short position on something in AI that I think is just wrong” ▶ 54:49 The Bond Market Pain Isn't Over | Weekly Roundup · 25 Sept
  • AHArthur HayesBearish Hayes says the market doesn't want enough of the AI being sold at current prices, only at the far cheaper China price. “the market doesn’t want enough of the AI they are selling at its current price. To be specific, the market loves AI, but at the China price, which is 1/100th as expensive.” Open the post Check out my new essay "Safety First". Trump ha… · 21 Sept

Strongly bullish

  • Jack FarleyStrongly bullish Farley dismisses the idea that a 5% 10-year yield will kill the AI trade, saying the AI trade will survive and Silicon Valley is laughing at the bears. “how a 5% 10-year Treasury yield is going to kill the AI trade (spoiler alert, it's not” Open the post When you're so levered long legacy enterprise so… · 10 Sept

12 bearish13 bullish

Also asked

Risk 13 voices← rising · easing →

11 rising2 easing

Risk rising sharply

  • WBWalter Bloomberg · on the show, speaker unnamedRisk rising sharply Barr warns AI could cause serious short-term labor-market disruption. “warning AI could cause serious short-term labor-market disruption” Open the post FED’S BARR SEES MORE RATE HIKES AHEAD Fed Gover… · 29 Sept
  • TKThe Kobeissi LetterRisk rising sharply The AI buildout is hitting a significant power constraint, with a widening electricity supply gap. “The AI buildout is running into a significant power constraint.” Open the post The AI revolution is running into a power bottle… · 28 Sept
  • AWAnna WongRisk rising sharply Wong says the risks to the sustainability of the AI boom she flagged three months ago are now materializing. “I have only seen more evidence that the risks I saw on the sustainability of the AI boom from three months ago are materializing.” Open the post I have only seen more evidence that the risks I … · 10 Sept
  • BCBen CarlsonRisk rising sharply Carlson frames AI as carrying a 10% chance of an extinction-level event, a large tail risk. “there is a 10% chance AI might cause an extinction level event for humanity” Open the post AI has the chance to improve EPS growth for the … · 9 Sept

Risk rising

  • ATAdam TaggartRisk rising Taggart says the AI compute buildout is a balance sheet investment with a real question mark around its sustainability. “There's a real question mark around its sustainability” ▶ 35:13 No Living Investor Has Seen A Time Like This Bef… · 29 Sept
  • DCDCPRisk rising DCP sees AI as the thing most likely to break first and trigger a reversal in yields, with private credit also vulnerable. “of all the things that I expect to break first, AI is probably the thing that I think triggers a reversal in yields” ▶ 21:57 The Bond Market Pain Isn't Over | Weekly Roundup · 25 Sept
  • HPHenry PeabodyRisk rising Peabody warns AI risk is being lumped generically across chips, Oracle, SpaceX and project finance, and that AI-related return expectations are likely wildly off. “People are thinking about being full on generic AI risk, which would run from the chips to Oracle to SpaceX to Project Finance” ▶ 13:28 Why the Fed May Have to Hike Far Higher Than Exp… · 24 Sept
  • JTJurrien TimmerRisk rising If the AI theme unravels, it will likely be because investors choke on the firehose of capital raises rather than on missing earnings. “If the AI theme unravels at some point, my guess is that it will be because investors are choking on the firehose of capital raises” Open the post As disturbing as the near-perfect price analog i… · 23 Sept
  • DCDean CurnuttRisk rising Hyperscaler/AI ecosystem stocks are so uncorrelated now that he expects a correlation event where they fall together. “I think we are setting up for a correlation event. where they prove to be very correlated after the fact.” ▶ 51:05 The Market Is Mispricing A Correlation Shock | D… · 16 Sept
  • DPDario PerkinsRisk rising Perkins warns that the AI boom could be topped out by a hawkish central bank pivot, so the risk to the boom is rising. “central banks just have a really nasty habit of marking the top of an asset boom with a hawkish pivot” Open the post literally everyone I speak to says Fed hikes don… · 16 Sept
  • SASam AltmanRisk rising Altman warns that competitive pressure must not justify recklessness or let capabilities outrun alignment and monitoring. “no amount of American competitive pressure should justify recklessness, or let capabilities get ahead of alignment and monitoring” Open the post The world deserves confidence that American comp… · 14 Sept

Risk easing

  • DLDaniel LacalleRisk easing He dismisses the alleged AI bubble, saying the real risk lies in government debt instead. “Don’t worry about the alleged AI bubble.” Open the post Don’t worry about the alleged AI bubble. Worry a… · 21 Sept

Risk easing sharply

  • MPMarko PapicRisk easing sharply Papic dismisses fears that AI poses an existential threat to humanity, calling them Hollywood-style scaremongering. “All the handwringing over AI ending humanity is the best example of the Wolf that cried "Wolf!"” Open the post All the handwringing over AI ending humanity is … · 14 Sept
Policy 3 voices← against · for →

3 for

For

  • ETErik TownsendFor Townsend favors an arms limitation negotiation with China over AI models to prevent AI from becoming the next nuclear weapon. “the idea of an arms limitation negotiation with China to say, let's not go to war over AI models” ▶ 49:47 MacroVoices #551 Michael Every: Decoding The Glo… · 25 Sept
  • WBWalter Bloomberg · on the show, speaker unnamedFor Gates calls for governments and political parties to cooperate on AI safeguards before the technology becomes harder to control. “He is calling for governments and political parties to cooperate on AI safeguards before the technology becomes harder to control” Open the post BILL GATES WARNS AI COULD CAUSE ‘A BILLION DEATH… · 25 Sept

Strongly for

  • SASam AltmanStrongly for Altman wants outside voices to have a real say in AI development and standards that prevent concentration of power and keep new and open-model companies able to compete. “People outside the AI labs should have a real say in how this technology develops” Open the post People outside the AI labs should have a real sa… · 22 Sept

Mentions

729 in September 2026
Mon 31Mon 21 · 51Thu 1

Stories it travels in

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The stories

  • ○ a voice, on the left
  • ◌ a voice raising half of these
  • ● a subject, on the right, under its story
  • ⌒ a line is a voice raising a subject — thicker, more items; colour is the story

The stories this entity travels in: on the right, each story with the subjects seen alongside it; on the left, the voices that raised them, and a line for every subject a voice raised, bundled by story. Tap a voice to light everything it raises, a subject for who raised it, a story for its own lines. The crumb goes back.

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