Benzinga·2026-02-18 19:38Group 1 - The AI capital expenditure boom is projected to exceed $400 billion in borrowing this year, significantly higher than the $165 billion raised in 2025 [1] - Concerns are raised regarding the opacity of AI debt exposure, as funding methods like special purpose vehicles and off-balance-sheet financing may not be immediately visible to investors [2] - A Bank of America survey indicates a decline in fund managers advocating for increased capital spending, with only 20% supporting it, down from 34% the previous month [3] Group 2 - Prediction markets suggest a 20% probability of an industry downturn by the end of 2026, with specific triggers identified such as a 50% drop in Nvidia's stock price [4] - The net notional CDS outstanding for major tech companies has surged to nearly $10 billion, indicating a rush among investors to hedge against AI debt exposure [5]