Sixth Street CEO Alan Waxman Warns of Speculation in AI Boom

A major private-credit player publicly stepping back from AI-related exposure is a signal worth noting, because it suggests the risk conversation is shifting from equity valuations to the credit channel that funds data-center buildout. The detail about banks trying to offload construction loans matters more than the general FOMO warning: it implies lenders are already managing balance-sheet exposure rather than merely talking about caution. The open question is whether reduced financing becomes a binding constraint on AI infrastructure timelines, and whether other large credit managers follow Sixth Street's sidelining posture.