Jack Selby, managing director at Thiel Capital, says the artificial intelligence boom could be a speculative bubble that bursts before the end of 2026. His warning came after CoreWeave, Nebius and IREN each lost more than 30% in roughly a month, while some CoreWeave debt traded at yields of 15% to 16%. Other major investors, including PIMCO’s CEO and Elon Musk, have also raised concerns about AI-related debt and whether companies can generate revenue beyond the largest cloud and technology platforms. Thiel-linked funds also disclosed that Peter Thiel’s hedge fund sold its roughly $100 million Nvidia position in the third quarter of 2025.
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