Keep pulling the thread on Jim Zelter.
Jim Zelter estimates that the combined capital raises of OpenAI, Anthropic, and SpaceX will exceed the historical annual average of $200 billion for equity issuance.
The investment-grade credit market has priced over $1 trillion of debt in record time so far this year.
Alphabet is reportedly undertaking an $85 billion capital raise.
Jim Zelter predicts the massive, long-duration global CapEx boom in sectors like AI will create a long-term "crowding out" effect, putting upward pressure on government debt yields globally.
Jim Zelter predicts that net issuance in the U.S. investment-grade (IG) market will be higher than that of the U.S. Treasury market this year.
The combined capital expenditures of the "Magnificent Seven" tech companies this year will be larger than the entire U.S. Defense Department's spending.
According to The Wall Street Journal, Donald Trump has privately told aides he would consider ending the ceasefire with Iran if American troops are directly targeted.
Jim Zelter predicts that the question of whether AI will be inflationary or deflationary will become clearer in 18 to 24 months.
The scale a company must achieve to be a relevant public entity is now much higher than it was in the past, which negatively impacts smaller enterprises valued at $5 to $10 billion.
Jim Zelter of Apollo Global Management believes that if a company as large as Alphabet cannot self-fund its AI CapEx, smaller companies will face significant financing challenges.
Jim Zelter of Apollo Global Management predicts that June will be a significant stress test for the investment-grade market.
Jim Zelter predicts that Alphabet's recent mandatory convertible bond issuance will be replicated by many other companies in the technology sector.